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Machi’s $10 Million Ethereum Long Nears Liquidation Threshold

Recent trades show reduced exposure after a $12.56M loss, with current holdings including $680K gains on ETH and HYPE positions.

ETH
USDC
HYPE

Summary

On October 11, 'Machi' suffered a $12.56 million loss during a market crash and halted large trades. Over the past two weeks, he shifted to smaller trades on Hyperliquid totaling $1.85 million. His account now holds $1.13 million, with $680,000 in unrealized gains from long positions in ETH and HYPE. This comes after earlier data showed a $10 million ETH long with 25x leverage nearing liquidation, prompting margin deposits to avoid forced closure.

Terms & Concepts
  • Liquidation Price: The specific price level at which a leveraged position is automatically closed by the exchange to prevent further losses when the account's margin becomes insufficient.
  • Leverage (25x): A trading approach where borrowed funds amplify exposure to an asset—in this case, 25 times the trader's own capital—magnifying both potential gains and losses.
  • On-chain Data: Publicly available blockchain transaction and position information that can be analyzed to track holdings and activity in real-time.