Maji Sells Bored Ape NFTs at 90% Loss to Fund ETH Long - Faces Multiple Liquidations
Market News:
Prominent crypto trader Maji (Huang Licheng) has been selling Bored Ape Yacht Club NFTs at significant losses to fund his long positions on Ethereum . This comes as ETH continues to trade near $1,570, putting his leveraged positions under extreme pressure .
Key Details:
· NFTs Sold: 34 Bored Ape NFTs sold for 326 ETH (~$514,000)
· Loss Incurred: 399 ETH (~$631,000) loss on the sales
· Worst Trade: Bored Ape #6057 sold for 7.65 ETH after purchase at 76.84 ETH four years ago — a 90% loss
· Current Status: Multiple liquidations on Hyperliquid, account now holds only $81,000
· ETH Price: Currently $1,571.43, down 0.15%
What This Means:
This highlights the extreme risks of leveraged trading in volatile markets. Even high-profile traders with significant resources can face near-total losses when leverage and market direction work against them . The NFT market's deep decline has compounded his losses, with blue-chip NFTs losing over 90% of their value from peak levels.
