James Wynn Is Back, Opens PEPE Long Position with 10x Leverage

James Wynn, a cryptocurrency trader renowned for his high-leverage crypto bets, is back in the market. This time, he has opened a PEPE long position with 10x leverage, according to data reported today by market analyst Onchain Lens.

Wynn’s Return to the Market

As per the data, the high-risk trader has returned to the cryptocurrency market with a substantial move, launching a PEPE long position using 10x leverage. This activity has attracted attention due to the trader’s involvement in high-leverage, risky trades. His bold move highlights a rising interest from wealthy investors opening directional bets on PEPE’s short-term movement.

Two days ago, on July 13, Wynn appeared to have deactivated his X platform account after losing hundreds of millions within a few weeks. Before deactivating his account that day, the trader quietly modified his bio to read: “broke.” The disappearance came after months of increased trading that attracted attention among crypto market participants.

In May, he opened a long position on BTC valued at $100 million, hoping that Bitcoin would surge above $105k. When the price dropped below the level, the position faced liquidation , erasing 949 BTC in a single trade.

Actionable Insights from Whale Activity

Wynn gained fame for his high-risk, high-reward trades on Hyperliquid, a perpetual DEX market that has become an avenue for big leveraged positions.

In April 2025, the trader turned a $7,000 investment in PEPE meme coin into over $25 million through leveraged trading on Hyperliquid.

The trader revealed through his tweets on X that he started trading perpetual futures on Hyperliquid in March without any prior experience. Within a month, Wynn reported to have built a substantial fortune from a $3 million position into $100 million through aggressive leverage trades, grabbing interest from the crypto community.

However, a significant moment when things started to change was in May when Wynn launched a $100 long position on BTC using a 40x leverage. Trump’s tweet about geopolitical updates triggered a market shift, causing Wynn’s liquidation. His huge bet was erased, leaving him with almost nothing.

Despite the risks, the activity on Hyperliquid signals a rising trend of wealthy investors participating in crypto leveraged trading.