Trader James Wynn sparks buzz with 25x Ethereum long as market sinks

On-chain trackers show James Wynn opened a 25× leveraged long position on Ethereum through Hyperliquid, setting his liquidation price at $4,152.8.

Wynn announced the position on X while Ethereum traded at $4,223.47, down 1.41% on the day. The trader urged followers to “buy the dip” following widespread liquidations that eliminated $447 million in leveraged positions across 24 hours.

Ethereum accounted for the largest portion of liquidated positions, with Bitcoin following closely. The liquidation wave occurred as prices declined and highly leveraged traders faced margin calls across major derivatives platforms.

Wynn previously gained attention on Hyperliquid for large public positions and significant profit swings. In May 2025, his Bitcoin position reached over $1 billion in notional value before losing approximately $100 million during a price reversal. Additional reports showed weekly losses exceeding $10 million as he continued aggressive trading through June 2025.

The trader built his initial capital from memecoin gains in 2023 before focusing on high-leverage perpetuals trading. Wynn regularly shares position details publicly, attracting both followers and critics for his high-risk approach.

Ethereum’s current price of $4,223.47 sits just $70.67 above Wynn’s liquidation threshold. The narrow margin creates an immediate risk of selling pressure returns. Open interest across derivatives platforms declined following Tuesday’s liquidations, indicating reduced system-wide leverage.

Wynn has not disclosed his position size or entry price beyond the liquidation level. But Hyperliquid displays real-time position data for accounts, allowing public monitoring of exposure changes.

The trader’s contrarian position comes as most market participants reduced risk during the decline. Funding rates for perpetual contracts reset to lower levels after the liquidation wave, reflecting decreased bullish sentiment.