Jeff Huang’s Ethereum Long Position Near Liquidation After Selling a Bored Ape NFT

Jeff Huang, also known as “Machi Big Brother,” sold one Bored Ape Yacht Club (BAYC) NFT from his holdings of 150 as his leveraged Ethereum long position faced liquidation risk. According to BlockBeats On-chain Detection, the sale proceeds were used to add margin and increase his long exposure. Monitoring data from HyperInsight dated June 26 said Huang’s account has recorded cumulative losses of $33.85 million, including a loss of $2.43 million over the past month. In a recent post, Huang said he needed “more Tom Lee” and claimed he was 8% away from liquidation. His Ethereum position was reported at $1.64 million, with an average entry price of $1,562.21 and a liquidation price of $1,538.84.