Machi Big Brother (machibigbrother), a prominent figure in the crypto community, continues to make waves with his aggressive trading on the decentralized derivatives exchange Hyperliquid. On-chain data shows that since October last year, he has deposited approximately $13.16 million into Hyperliquid, but most positions ended in losses. His account balance has plummeted from a peak of about $50.39 million in September last year, a drop of over 99%, earning him the nickname 'Liquidation King' among netizens.
According to Coinglass data, Machi has recently been using 25x leverage to long Ethereum (ETH) and Hyperliquid's native token HYPE. Earlier today, he added to his position, going long on 1,000 ETH. However, around 7 PM local time, as Bitcoin fell below $70,000, Machi cut his position in half. He currently holds a 25x leveraged long on 500 ETH and a 10x leveraged long on 45,000 HYPE.
Liquidation Price Nears, Risk Persists
Machi's current liquidation price stands at $2,035.19. Previous reports noted that he suffered significant losses during earlier market drops when Bitcoin slumped below $87,000. This latest episode once again highlights the extreme risks of high-leverage contract trading.