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Machi Big Brother Sells BAYC at a Loss to Bolster ETH Long, Holding 2,800 ETH
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News EditorOn August 13, according to a BlockBeats report, on-chain data monitor OnchainDataNerd flagged that Machi Big Brother may be facing increased financial pressure, as he withdrew only 1,540 USDC from Binance. To maintain his ETH long position, he sold Bored Ape Yacht Club #5715 for 8.3 ETH (approximately $15,600). The NFT was originally acquired three years ago at a cost of 34.17 ETH, which was valued at about $64,000 at that time. Currently, his ETH long position stands at 2,800 ETH, worth approximately $5.3 million, with a liquidation price set at $1,863.08. These figures were observed by OnchainDataNerd and reported via BlockBeats.
Onchain monitor OnchainDataNerd has flagged a potential increase in financial pressure for Machi Big Brother. On August 13, data showed he withdrew just 1,540 USDC from Binance.
To keep his ETH long position afloat, Machi Big Brother sold Bored Ape Yacht Club #5715 at 8.3 ETH, equal to roughly $15,600. That NFT cost him 34.17 ETH about three years ago, when its value was approximately $64,000.
His current ETH long position is 2,800 ETH, valued at about $5.3 million. The liquidation price for this position is $1,863.08, according to the monitoring data.
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