James Wynn Bets Big: $23M Leveraged Long on ETH and PEPE Signals Bullish Surge on Hyperliquid

Crypto whale James Wynn just placed a $23 million leveraged long bet on Ethereum and PEPE—either a genius move or proof that 2025's bull run hasn't hit peak irrationality yet.

Hyperliquid's order book got a seismic jolt as Wynn's massive position flipped ETH and meme-coin PEPE into high-octane plays. Leverage amplifies gains (and losses), so someone's either printing generational wealth or prepping for a margin call spectacle.

Why this matters: When nine-figure positions target both blue-chip crypto and meme assets simultaneously, it screams conviction—or desperation. Either way, the market's about to get a volatility injection.

Bonus jab: Nothing says 'mature financial ecosystem' like a leveraged bet on an internet frog coin. Welcome to decentralized finance.

TLDR

• James Wynn opened a 25x leveraged long position on Ethereum worth $12.12 million and a 10x long on PEPE worth $11.28 million
• The ETH position faces liquidation at $3,492.80 while currently down over $62,700, with PEPE showing $251,617 unrealized profit
• Wynn deposited $536,573 USDC into Hyperliquid exchange to fund these high-risk trades after previous losses totaling over $125 million
• The trades come during ETH’s 20% weekly surge and a major short squeeze that could liquidate $1 billion more in positions
• Bitcoin dominance dropped to 61.4% as traders rotate into altcoins, with ETH approaching $3,700 and targeting $4,000

Crypto trader James Wynn has returned to high-stakes trading with two massive leveraged positions worth over $23 million. The trader opened a 25x long on Ethereum and a 10x long on PEPE memecoin through the Hyperliquid exchange.

Wynn’s ethereum position consists of 3,269 ETH valued at approximately $12.12 million with an entry price of $3,726.28. His PEPE position spans 812.16 million tokens worth roughly $11.28 million at an average entry of $0.01358.

James Wynn(@JamesWynnReal) just deposited another 536,573 $USDC into Hyperliquid, then opened 25x long on $ETH and 10x long on $PEPE.

Current long positions:
3,269 $ETH($12.12M)
812.16M $kPEPE($11.28M)https://t.co/FX6sISWuDP pic.twitter.com/NL9znfr1Wz

— Lookonchain (@lookonchain) July 20, 2025

The trader funded these positions by depositing 536,573 USDC into Hyperliquid, a decentralized perpetuals exchange. Current performance shows mixed results with the Pepe position generating $251,617 in unrealized profit while the ETH trade sits down over $62,700.

Both positions carry high liquidation risks. The ETH trade faces liquidation at $3,492.80, while the PEPE position’s liquidation level sits at $0.012998.

Wynn’s Trading History and Recent Return

Wynn first gained attention after suffering catastrophic losses earlier this year. A $100 million Leveraged Bitcoin bet was liquidated on May 30, followed by another $25 million loss on June 5.

Following these losses, Wynn disappeared from social media on July 13. His X account was deactivated and his bio simply read “broke” before vanishing entirely.

The trader made his return last week with initial high-leverage positions. These included a 40x long on Bitcoin worth over $19.5 million and a 10x long on PEPE valued at more than $100,000.

Wynn has claimed that major market players deliberately target his liquidation levels. He posted on X Tuesday stating “Beautiful timing for a 40x long” and suggested market makers were “out of gun powder.”

Market Conditions Favor Wynn’s Strategy

Wynn’s ETH bet coincides with one of the largest short squeezes in crypto history. Ethereum has gained 20% over the past week and added over $150 billion to its market cap since July 1.

ETH is currently approaching $3,700 and eyeing its 2025 highs. Analysts expect the $4,000 level to come soon based on current momentum.

The Kobeissi Letter estimates that another 10% price gain could liquidate an additional $1 billion in short positions. Many of these positions are highly leveraged, creating potential for cascading liquidations.

Bitcoin’s market dominance has dropped to 61.4%, the lowest level since March. Traders are rotating capital into altcoins like ETH and XRP, supporting Wynn’s positioning.

The current market structure shows heavy short interest in Ethereum. This creates favorable conditions for leveraged long positions if the upward momentum continues.

Wynn’s PEPE position reflects broader interest in memecoin trading. The token has shown volatile price action but maintains active trading volume on major exchanges.

The trader’s return to high-leverage positions demonstrates continued confidence despite previous losses exceeding $125 million. His latest trades represent one of the largest individual leveraged bets in the current market cycle.