Machi cuts losses, holds $48M in Ethereum long position
Summary
As cryptocurrency markets face downward pressure, Machi has cut his losses significantly, reporting a loss of over $5 million in the past week. Currently, he holds a long position of 20,000 $ETH valued at approximately $47.98 million, with a liquidation price set at $2,380.57. This decision mirrors the behavior of high-profile traders in decentralized perpetual exchanges, who often adjust their large holdings in response to market volatility.
Tokens
$ETH
Analysis
Machi: Machi Big Brother, whose real name is Jeffrey Huang, is a Taiwanese crypto investor and trader known for taking leveraged long positions in perpetual futures on platforms such as Hyperliquid. He is also a Bored Ape Yacht Club collector and has been active in promoting certain meme coins tied to ecosystem developments. In this news, Machi is adjusting his Ethereum exposure downward amid broader market weakness, consistent with his pattern of managing high-leverage positions. Market Movement: Cryptocurrency markets have seen downward pressure prompting leveraged traders to reduce or exit positions. Trader Activity: High-profile participants in decentralized perpetual exchanges frequently monitor and adjust large long holdings in assets like Ethereum during volatility.
Categories
cryptodefion_chain_whale
Related sources
- https://x.com/i/user/2295707437
- https://x.com/i/status/2099293340349120935
- https://phemex.com/news/article/machi-opens-113m-in-bitcoin-and-ether-longs-after-account-rebound-94490
- https://x.com/i/status/2099528285344739678
- https://www.cryptopolitan.com/machi-flips-152k-into-12-7m/
- https://x.com/i/status/2099540459089727663
- https://x.com/i/user/970014782135844864
- https://x.com/i/user/2545951510
- https://beincrypto.com/machi-big-brother-friend-tech-bid/
- https://beincrypto.com/machi-hyperliquid-season-3-airdrop-memecoin/
- https://www.kucoin.com/news/insight/BTC/6aa183364ca39f00075f0b5b