The latest liquidation and earlier losses deepen the trader’s drawdown as he continues using high-leverage ETH longs, even after selling Bored Ape NFTs to add margin.
Brother Maji was liquidated for $341,000 on Tuesday after a leveraged ETH long position on Hyperliquid was forced closed in part, costing 220 ETH. Before that, he had already closed two ETH long positions at a combined loss of $155,700. The remaining position stood at 880 ETH, worth about $1.376 million, with a reported liquidation price of $1,543.81 and an unrealized loss of about $23,000, according to Hypurrscan. The losses add to a prolonged run of unsuccessful leveraged perpetual futures trading. Arkham said four days before the latest liquidation that Brother Maji had sold one of his roughly 150 Bored Ape Yacht Club NFTs and used the proceeds to add margin to his Hyperliquid account, where he then held a $1.6 million ETH long backed by only $67,000 in margin. Arkham also said his cumulative losses rose from $24.18 million in January, when he was liquidated five times in a single day during a broader market downturn, to $80.43 million five months later. The trader has also been selling parts of his NFT collection. Lookonchain reported on June 28 that he sold 34 Bored Apes for 326 ETH, about $514,000, over the previous month, taking a loss of 399 ETH, or about $631,000. In one sale, Bored Ape #6057 changed hands for 7.65 ETH, compared with the 76.84 ETH he paid four years earlier, a roughly 90% loss.