Ethereum Whale Machi Big Brother Sells Bored Apes Amid Liquidation Fears

A significant Ethereum whale known as Machi Big Brother has been forced to liquidate part of its long position in the cryptocurrency. According to data from Lookonchain and Hyperliquid, the account's long position in Ethereum has shrunk by over 50% since July 14.

The whale sold three Bored Apes - #251, #5670, and #5715 - at steep losses, with one sale resulting in a loss of 89.4% in ETH terms. The sales were likely an attempt to reduce the account's exposure to Ethereum's price volatility.

However, despite the liquidation efforts, the account remains at risk of further losses. On August 14, the liquidation price stood at $1,859.15, just $22 above the Ethereum midpoint of $1,881.65.

The account's changing threshold leaves it dependent on more than position size or one visible asset sale. This highlights the risks associated with leveraged trading and the importance of managing risk effectively.