According to on-chain analytics platform Lookonchain (@lookonchain), "Machi Big Brother" (@machibigbrother) was once again liquidated. To raise funds and maintain his ETH long position, he sold Bored Ape #6801 two hours ago for 8.61 ETH. The NFT was originally purchased three years ago for 23.5 ETH, resulting in a loss of approximately 14.89 ETH (around $28,000).
Crypto influencer 'Maji Big Brother' forced to sell Bored Ape NFT to cover ETH position
TechFlowShare
Summary
Crypto influencer 'Maji Big Brother' was forced to sell Bored Ape #6801 for 8.61 ETH to maintain his long ETH position during a high-risk trading move. The NFT was originally purchased for 23.5 ETH three years ago, resulting in a loss of 14.89 ETH (approximately $28,000). The trade underscores a poor risk-to-reward ratio, as the position failed to generate profits despite being held for over two years.
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