Machi Big Brother Sells Bored Ape NFT at Loss to Fund $5.3M ETH Long
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Machi Big Brother Sells Bored Ape NFT at Loss to Fund $5.3M ETH Long
Machi Big Brother, the crypto trader also known as Jeffrey Huang, sold Bored Ape NFT #5715 for 8.3 ETH, worth about $15,570. He had bought the NFT three years ago for 34.17 ETH, taking a significant loss on the sale. The proceeds were used to support his 2,800 ETH long position worth about $5.3 million, with a liquidation price near $1,863. Huang has repeatedly sold NFTs to add funds to leveraged ETH positions on Hyperliquid, with his trading activity resulting in millions of dollars in losses.
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Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.
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