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ETH Cryptocurrency trader Machi suffered huge losses, and his account assets returned to below one million dollars.
Well-known cryptocurrency trader "Machi Big Brother" suffered a huge loss of up to US$8.44 million in the past week. Its public tracking data showed that total assets in the account had once again fallen below the US$1 million mark, although the trader still held long ETH positions worth approximately US$24.68 million.
The trader, known as Jeffrey Huang, has seen sharp swings this week: he was profitable at first, and then the market plunged sharply. The current market focus is on whether its position of 9,950 ETH has touched the liquidation red line.
Why is there a deficit of US$8.44 million in the account?
According to tracking platform data, trader Machi's cumulative weekly profit and loss indicator shows a value of-8.44 million US dollars. At the same time, its total transaction volume this week reached $662.96 million.
The chart shows that its profit climbed to about US$3.02 million at the beginning of the week, but then reversed sharply. The performance first turned from positive to negative, and the final loss exceeded US$8 million. As a result, the total net value of the account fell back to US$992,487.71, falling back below the psychological threshold of US$1 million.
Is Machi's US$24.68 million ETH position at risk?
Machi Big Brother's current open positions include a long order of 9,950 ETH, with a current valuation of approximately US$24.68 million.
The designated clearing price for this position is US$2,431.59. If ETH prices fall to this level, the transaction will face the risk of forced liquidation.
The concept of distinguishing between account net value and open position size needs to be clearly understood here. The net account value of approximately US$992,000 displayed on the screen is not equivalent to the size of the ETH position of US$24.68 million. The size of open positions reflects the trader's exposure to market risk, while net account value is another independent measure.
The key turning point in Machi's recent performance is the rapid shift from positive to significantly negative weekly profit and loss indicators. As ETH prices approach the clearing line of $2,431.59, this highly leveraged position has become a major risk factor that requires focused monitoring.
