Ethereum is trading near a level that leaves several highly leveraged longs exposed, according to TradingBeats data cited by BlockBeats on Oct. 8. The largest position belongs to Jeffrey Huang, known as “Machi,” whose address 0x020c is holding an approximately 36,200 ETH long with 25x cross leverage. The position is valued at about $92.88 million, has an average entry of $2,646.1, and is showing an unrealized loss of roughly $2.828 million. With ETH last reported around $2,568, the estimated liquidation price stands at $2,508.2, leaving a gap of about $59.7. That means another 2.3% drop in ETH could bring the position to its liquidation threshold. TradingBeats also flagged several other leveraged longs sitting close to risk levels. One 20x cross long tied to address 0xf25a holds about $2.362 million in ETH, with an entry price of $2,774.1 and a liquidation price of $2,541.5, around 1.0% below the current market price. Two separate 25x cross longs, linked to addresses 0x634f and 0xa516, hold positions worth about $9.581 million and $2.096 million. Both have full-position stop losses set at $2,523.
Jeffrey Huang, known as “Machi,” is facing a narrow buffer on a large leveraged ETH long, according to TradingBeats monitoring cited by BlockBeats on Oct. 8.
The address 0x020c is currently holding an approximately 36,200 ETH long using 25x cross leverage. The position is worth about $92.88 million, with an average entry price of $2,646.1, and is showing an unrealized loss of roughly $2.828 million.
ETH was last quoted at about $2,568. At that level, the estimated liquidation price for the position is $2,508.2, a difference of about $59.7. A further decline of roughly 2.3% in ETH would bring the position to its projected liquidation line.
Other leveraged longs are also near risk levels
TradingBeats data also showed that another trader using 20x cross leverage, address 0xf25a, is holding an ETH position worth about $2.362 million. That position has an average entry of $2,774.1 and a liquidation price of $2,541.5, placing it about 1.0% away from the current ETH price.
Two other traders using 25x cross leverage, addresses 0x634f and 0xa516, are holding positions worth about $9.581 million and $2.096 million, respectively. Their average entry prices are $2,575.7 and $2,575.1, and both have set full-position stop losses at $2,523.
Those two stop-loss orders together cover about 4,547.2 ETH. Based on the trigger price, that amounts to about $11.473 million, with the stop-loss level sitting roughly 1.8% below the current market price.
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