Ethereum Whale Machi Big Brother Sells Bored Ape NFTs to Cut Losses
A prominent Ethereum whale, known as Machi Big Brother, has been selling off their Bored Ape NFTs to cut losses on a long position in Ethereum. According to data from Lookonchain, the whale's $ETH long has shrunk by over half since July 14, with the liquidation price rising accordingly.
The sales of three Bored Apes, including #251 and #5670, have been identified as efforts to support the Ethereum position, but the direct trail stops short of a complete buyer-payment-to-address-to-Hyperliquid chain. The reported losses from these sales range from 6.99 $ETH on Bored Ape #251 to 89.4% on Bored Ape #5670.
By August 14, the whale's Ethereum long had fallen to 2,500 $ETH, with a liquidation price of $1,859.15 - just $22.50 away from being triggered. The account's risk did not follow the NFT sales in a simple line, with the liquidation price rising as the long shrank through August 13 and then moving slightly lower by August 14.