BlockBeats reported on August 20 that EmberCN is tracking an address linked to trader Machi Big Brother, which has remained heavily long ETH. After ETH rose 17% in a single day, the trader’s $48.22 million ETH long was showing about $3.34 million in unrealized gains. The same address has also suffered hundreds, and possibly more than 1,000, liquidations over the past year because of high-leverage trading, with cumulative losses still standing at $31.5 million. The update highlights a rare short-term rebound, but the broader PnL picture remains deeply negative.
ETH long briefly turns profitable
BlockBeats reported on August 20, citing EmberCN, that the address tied to trader Machi Big Brother has stayed heavily long ETH for an extended period. After ETH climbed 17% in a single day, the position — worth $48.22 million — was showing about $3.34 million in unrealized gains.
The move gave the trader a short-lived payoff after a long stretch of pressure on the position.
High leverage has led to repeated liquidations
EmberCN said the same trader has gone through hundreds, and possibly more than 1,000, liquidations over the past year because of high-leverage trading. Even with the latest rebound, cumulative losses remain at $31.5 million.
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