NFT Collector Dumps Bored Ape Yacht Club at $16K Loss

A prominent collector and crypto trader has reportedly sold one of his prized Bored Ape Yacht Club (BAYC) NFTs at a steep loss to fund an Ethereum leveraged position.

Machi Big Brother sold Bored Ape #6801 for 8.61 ETH, roughly three years after purchasing it for 23.5 ETH during the peak of the NFT craze.

The sale locked in a loss of 14.89 ETH, worth about $16,000 at current prices. At its peak, the collection was worth over 70 ETH.

The transaction came shortly after reports that the trader had been liquidated again on a leveraged Ethereum position.