'Machi' Near Liquidation Forces Reduction of $3.2M ETH Long Positions, Weekly Loss Reaches $1.04M

BlockBeats news, March 31, according to Coinbob's monitoring of popular addresses, 'Machi' Huang Licheng's ETH long positions have seen worsening unrealized losses, with the positions briefly nearing the edge of liquidation again. In response, he consecutively reduced 1,606 ETH long positions, equivalent to approximately $3.23M, recording a loss of about $34K. The position size was compressed from $11.35M to $8.09M, and the liquidation price was subsequently lowered to $2,006. Looking back at this round of position building, this whale had reopened positions on March 26 with less than $100K in funds after his original ETH long positions were liquidated. He then gradually added a total of $700K to continuously roll the positions. However, the recent downturn has pushed the account funds back down to approximately $250K, wiping out all recent profits. Weekly losses have accumulated to $1.04M.