Bored Ape Owner Sells NFT at Significant Loss to Fund Ethereum Long Position

Machi, an investor who held onto a Bored Ape for three years, has liquidated his asset to raise funds for an Ethereum long position. The NFT was sold for 8.61 ETH, resulting in a significant loss of 14.89 ETH or approximately $28,000 USD from its original purchase price. This sale occurred just two hours ago, according to monitoring by Lookonchain reported by Odaily.

The Bored Ape, number 6801, was purchased for 23.5 ETH three years ago. Machi's decision to sell the NFT was likely motivated by a desire to cover losses or raise capital for his long position in Ethereum.