Machibigbrother sells Bored Ape 6801 at a loss to fund ETH long position after liquidation
A well-known crypto whale sold a Bored Ape NFT for 8.61 ETH, losing 14.89 ETH compared to the purchase price 3 years ago, to raise funds for his ETH long position after being liquidated.
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Crypto whale Machibigbrother has sold Bored Ape 6801 at a loss to raise funds for an ETH long position after being liquidated again. According to Lookonchain, the whale sold the NFT for 8.61 ETH two hours ago, compared to the purchase price of 23.5 ETH three years ago, resulting in a loss of 14.89 ETH, approximately $28,000. The sale comes after another liquidation event, prompting the need for additional capital to maintain the ETH long position. This move highlights the ongoing volatility and risk in leveraged crypto trading, as well as the impact on the NFT market when whales are forced to liquidate assets.
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