Machi Big Brother Sells Bored Ape NFT at 89% Loss, Adds Funds to 25x ETH Long

Jeffrey Huang, a high-profile cryptocurrency trader better known as Machi Big Brother, sold Bored Ape Yacht Club NFT #5670 for 9 ETH after purchasing it for 85 ETH about five years ago, realizing a loss of 76 ETH, or approximately $142,000, according to blockchain analytics platform Lookonchain.

Lookonchain said Huang used the proceeds from the NFT sale to continue supporting his leveraged long position in Ethereum.

The position currently totals 3,450 ETH, valued at approximately $6.44 million, and uses 25x leverage. Blockchain data cited by Lookonchain shows the position has a liquidation price of $1,839.37.

Source: Lookonchain