News
Public · Published
Machi(@machibigbrother) just sold Bored Ape #251 at a loss of 6.99 $ETH($12.4K) to raise more funds for his $ETH long. He currently holds a 5,264 $ETH($9.38M) long position, with a liquidation price of $1,756.76.
Machi sold his Bored Ape #251, losing about 6.99 ether, which is roughly twelve thousand four hundred dollars, to add cash to his 5,264‑ether long position that would be liquidated if ether falls to $1,756.76.
Published:
Updated:
What happened
Machi sold his Bored Ape #251, losing about 6.99 ether, which is roughly twelve thousand four hundred dollars, to add cash to his 5,264‑ether long position that would be liquidated if ether falls to $1,756.76.
Confirmed
Global impact / market context
The trade shows how a trader is using a non‑core digital collectible to fund a big leveraged bet, illustrating the risk of needing extra cash when market moves against a large position.
Analyst inference
When the price of Ethereum moves sharply, traders with large leveraged bets may need extra cash, so they can sell other holdings to avoid forced liquidation.
Analyst inference
What to watch
- Ethereum price approaching the $1,756.76 level, which could force Machi to sell more assets to keep his long position open. Analyst inference
- Whether Machi sells additional holdings, such as other NFTs or crypto, to raise more funds for his large ether long position. Analyst inference
- Changes in borrowing costs or margin rules on platforms offering ether leveraged positions, which could affect the viability of Machi’s trade. Analyst inference
Affected assets
- ETH — Ethereum