Machi really is one tough cockroach—just a few days ago, he got liquidated down to zero, and now he’s back again. But this time was no different: he got liquidated again.
A few months ago, his account still had $12.25 million in it. Last night, he was completely liquidated, and at one point his balance was down to just $21,800.
After scraping together money from here and there, his balance is back up to $42,000. A full $35 million in losses has simply evaporated.
But that’s not what really gets me.
On-chain data shows that over the past six months, he sold more than 60 NFTs to raise money for margin.
And the result? Just selling NFTs cost him over 1,000 ETH—about $2.35 million.
To survive in this meat grinder, he pawned off everything he had, and in the end, didn’t even get a peep out of it. Now all he has left is a 25x long position worth 320 ETH.
Entry price: $2,355. Liquidation price: $2,334.
Hundreds of thousands of dollars, balancing on a knife’s edge right above liquidation.
He went from trading positions worth hundreds of millions to having only a tiny fraction left, and he’s still fighting to the bitter end.
We retail traders lose a few thousand bucks, at least we can still go to work.
The big shots lose tens of millions, and in the end, they can’t even hold on to the apes they bought.
This market has a way of taking down anyone too stubborn to quit.
Bros, are you still holding on for dear life?
How much do you have left in your account? Drop a number in the comments—I want to see who’s worse off than Machi.
A few months ago, his account still had $12.25 million in it. Last night, he was completely liquidated, and at one point his balance was down to just $21,800.
After scraping together money from here and there, his balance is back up to $42,000. A full $35 million in losses has simply evaporated.
But that’s not what really gets me.
On-chain data shows that over the past six months, he sold more than 60 NFTs to raise money for margin.
And the result? Just selling NFTs cost him over 1,000 ETH—about $2.35 million.
To survive in this meat grinder, he pawned off everything he had, and in the end, didn’t even get a peep out of it. Now all he has left is a 25x long position worth 320 ETH.
Entry price: $2,355. Liquidation price: $2,334.
Hundreds of thousands of dollars, balancing on a knife’s edge right above liquidation.
He went from trading positions worth hundreds of millions to having only a tiny fraction left, and he’s still fighting to the bitter end.
We retail traders lose a few thousand bucks, at least we can still go to work.
The big shots lose tens of millions, and in the end, they can’t even hold on to the apes they bought.
This market has a way of taking down anyone too stubborn to quit.
Bros, are you still holding on for dear life?
How much do you have left in your account? Drop a number in the comments—I want to see who’s worse off than Machi.
