BAYC Sell-Off Details: Heavy Losses
On-chain monitoring platform Lookonchain reported that prominent NFT whale and Taiwanese entertainer Machi Big Brother (Huang Licheng) has been offloading his Bored Ape Yacht Club (BAYC) collection over the past month. He sold a total of 34 BAYC NFTs, receiving 326 ETH (approximately $514,000). Compared to his historical purchase costs, the net loss amounts to 399 ETH (approximately $631,000). The most striking example is Bored Ape #6057, which was acquired four years ago for 76.84 ETH but was recently sold for just 7.65 ETH—a staggering 90% depreciation, underscoring the prolonged slump in the blue-chip NFT market.
Hyperliquid Long Liquidations: Leverage Risks Materialize
Beyond the NFT sales, Machi Big Brother's ETH long positions on the decentralized derivatives protocol Hyperliquid have also faced repeated liquidations. According to the same data, his long positions hit liquidation thresholds multiple times, with the most recent liquidation occurring just three hours ago. After the latest event, his account balance dropped to approximately $81,000. This series of moves illustrates that even experienced whales are not immune to the combination of a weak NFT market and high leverage in derivative trading.