Trader ‘Maji Dage’ Faces ETH Long Liquidation Risk at $3,992
According to Lookonchain, 'Maji’s' Ethereum long position was fully liquidated, marking a dramatic reversal from prior $43.64 million profits to over $13 million in losses.
ETH
Fact Check
Multiple sources (blockchain.news, gate.com) from a consistent timeframe corroborate that a trader known as 'Maji' had an ETH long position with a liquidation price of $3,992. The information is attributed to on-chain analyst EmberCN. While subsequent reports suggest this position may have already been liquidated and new ones opened, the evidence strongly confirms that this specific risk did exist as stated.
Summary
On October 16, Lookonchain reported that the on-chain trader known as 'Maji' suffered a full liquidation of their Ethereum long position, leaving only $32,800 in balance. The trader, who had previously achieved $43.64 million in cumulative gains, now faces total losses exceeding $13 million. This marks one of the largest single liquidation events among high-profile ETH traders this month.
Terms & Concepts
- Liquidation: The forced closure of a leveraged position when margin requirements are not met, preventing further losses.
- ETH (Ethereum): A decentralized blockchain platform and cryptocurrency used for smart contracts and decentralized applications.