ME News reports that on July 24 (UTC+8), according to on-chain analytics platform Lookonchain (@lookonchain), "Maji 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). (Source: ChainCatcher)
Machi Big Brother Forced to Sell Bored Ape NFT to Cover ETH Long Position
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Summary
Machi Big Brother liquidated Bored Ape #6801 for 8.61 ETH to cover his ETH long position, according to Lookonchain. The NFT was purchased for 23.5 ETH in 2021, resulting in a loss of 14.89 ETH. This move underscores the importance of the risk-to-reward ratio in position trading. The liquidation occurred on July 24 (UTC+8), as reported by MetaEra.
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