Machi Big Brother Reduces Ethereum Long Position Amid Growing Losses
The prominent trader scaled back his leveraged Ethereum holding to 261 ETH as weekly losses hit $761,400, pushing total historical losses beyond $25.9 million.
ETH
Summary
Machi Big Brother reduced his Ethereum long position to 261 ETH while maintaining 25x leverage at an entry price of $1,983. HyperInsight data indicates the trader incurred a $761,400 loss over the past week, bringing his total cumulative trading losses to more than $25.92 million.
Terms & Concepts
- Leveraged Long: A trading strategy where an investor borrows funds to increase exposure to an asset, aiming to profit from price increases.
- ETH: Ethereum, a decentralized platform that runs smart contracts and is powered by its native cryptocurrency, Ether (ETH).