James Wynn, a prominent high-leverage crypto trader, has initiated leveraged trades on Ether (ETH) and PEPE worth over $23 million after depositing approximately $536,000 USDC into Hyperliquid. Wynn's ETH position is a 25x long totaling 3,269 ETH, valued around $12.12 million, with an entry price of $3,726.28. In contrast, his PEPE position, leveraged at 10x, involves 812.16 million PEPE tokens worth roughly $11.28 million at an average price of $0.01358. Currently, Wynn shows an unrealized profit of over $251,000 from PEPE, while his ETH position is down $62,700. The decision to open these positions follows significant losses earlier this month and comes amidst a notable surge in ETH's price, which has increased by 20% in July, further contributing to Wynn's trading activity amidst market volatility.

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