Crypto Trader James Wynn Opens 25x Long Position on Ethereum at $4,884
Crypto trader James Wynn has opened a 25x leveraged long position on Ethereum as the price reached an all-time high of $4,884. Key details include:
- Wynn used approximately $5,568 in margin for a 29.3 ETH position worth $139,215.
- The trade shows unrealized gains of $14,888, equating to over 267% return.
- Earlier this year, Wynn made $100 million in leveraged long bets but lost it all betting on Bitcoin.
Recent Activities
- Wynn also took a 10x leveraged long position in DOGE, valued at around $206,130 for 867,335 DOGE.
- This position is currently showing an unrealized loss of about $1,886.
- Total leveraged exposure is approximately $345,000 with equity around $26,600, resulting in a margin utilization of 110%.
Crypto trader James Wynn takes leveraged bets on ETH, DOGE | Source: Hyperdash
Market Context
- Ethereum's recent price surge is attributed to a speech by Federal Reserve Chair Jerome Powell, indicating a potential interest rate cut.
- Spot Ether ETFs saw $337.6 million in net inflows, raising total assets under management to over $12.1 billion.
- Corporate purchases of ETH have reached around $1.6 billion over the past month, totaling nearly $30 billion in corporate holdings.