James Wynn’s Triple Crypto Bet in PEPE, DOGE, ETH Backfires: $17K in Referral Payouts Lost

• James Wynn used $23,117 in referral rewards to open new PEPE, ETH, and DOGE longs, but liquidations cut his balance down by $17,165.
• Just days earlier, he was running a 25x ETH long and a 10x DOGE long.
• Wynn’s history includes losing more than $22 million on Hyperliquid, yet he continues to place aggressive leveraged bets.

Market data platform Lookonchain reported today that high-leverage trader James Wynn has once again suffered losses on the perpetual futures exchange Hyperliquid. Wynn had recently claimed $23,117 in referral rewards and used the funds to open new long positions on PEPE, Ethereum (ETH), and Dogecoin (DOGE).

However, the trades unraveled quickly. A series of liquidations reduced his balance to just $5,952, wiping out $17,165 within hours. 

This follows the ongoing bearish momentum in the crypto market, where Bitcoin has dipped to $108K over the past day. At the same time, ETH crashed to $4,300 just days after hitting an all-time high of $4,950. High-leverage traders like Wynn continue to have it tough in such a bearish market.

Pattern of Risky Bets

The latest setback continues Wynn’s volatile run in the market. Just two days ago…

The post James Wynn’s Triple Crypto Bet in PEPE, DOGE, ETH Backfires: $17K in Referral Payouts Lost appeared first on Coin Edition.