The crypto landscape has seen a drastic liquidation event over the past 24 hours. As per the data from Lookonchain, amid a total crypto liquidation of $369M over twenty-four hours, the popular trader Machi Big Brothers has incurred unrealized losses of up to $10M. The on-chain analytics platform revealed in a recent X post that the respective drop has raised concerns among the crypto community regarding further liquidation. In this respect, continued liquidations could place Machi among the wiped-out traders like Aguila Traders, Qwati, and James Wynn.
Machi Big Brother Loses $10M Amid Crypto Liquidation of $359M
Based on the exclusive market data, the crypto market has gone through a liquidation of staggering $359M within the past twenty-four hours. This massive liquidation spree has targeted many of the notable players in the market. In this respect, Machi Big Brother has seen $10M in unrealized losses. However, as these are the unrealized losses, the $ETH liquidation price of Machi stands at $3,059.
Keeping this in view, the popular trader is currently far from complete liquidation. Even then, the latest liquidation of $10M has triggered apprehensions regarding the deepening of the ongoing bearish outlook. The present holdings of Machi Big Brother are spread across 4 long positions, accumulating to $130.6M. Additionally, the notable trader’s portfolio takes into account 23,700 $ETH ($99.9M), 200,000 $HYPE ($8.4M), and 375,000 $PUMP ($1.08M). Nevertheless, these positions stand in deep loss.
Significant Margin from $ETH Liquidation Price Gives Relief
In line with Lookonchain’s data, the Prep Equity of Machi accounts for $29.64M while margin usage stands at 18.84%. Additionally, the famous trader does not have any short exposure. Irrespective of Machi’s alarming losses, his $ETH position is still strong and secure while the top altcoin is trading at $4,215.30, and the liquidation threshold is $3,059.19. Even then, amid the broader liquidation concerns, the portfolio of Machi presents high-stakes spectacle as the market is going through noteworthy uncertainty.
