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Machi’s Account Liquidated With Losses Over $20 Million

On-chain data shows Machi faced 22 liquidations in 24 hours, with losses exceeding $18 million and reopening a high-leverage ETH position afterward.

ETH

Summary

On-chain analyst @ai_9684xtpa reported that trader Machi (Huang Licheng) was liquidated 22 times within a 24-hour period, resulting in a $1.047 million loss. This brought his total losses to $18.56 million. Following these liquidations, Machi opened a $340,000 Ethereum long position at 25x leverage, priced at $2,738.76 per ETH.

Terms & Concepts
  • Liquidation: The forced closure of a trading position, typically when losses exceed collateral or margin thresholds.
  • On-chain analyst: An individual who examines blockchain transaction data to uncover patterns, behaviors, and market activity.
  • Leverage: The use of borrowed capital to increase the potential return of an investment, which also amplifies potential losses.