Jeffrey Huang (commonly known as Machi Big Brother) once again replenished its ETH leverage position through the sale of NFTs. In the latest transaction, he sold a Bored Ape Yacht Club NFT at 8.3 ETH at a price significantly lower than the purchase cost three years ago.
Sale price below cost
The Bored Ape NFT, number #5715, has a bargain of approximately $156,000. Public information indicates that Huang paid 34.17 ETH when he bought the NFT three years ago, which means that there was a significant loss on this sale.
Money shift 2800 ETH multiple head
The proceeds of the sale were subsequently used to support his multi-headed ETH position on Hyperliquid. The size of the warehouse is approximately 2800 ETH, with a median calibre value of approximately $5.3 million and a liquidation price of close to $1863.
- Sale price: 8.3 ETH
- Original purchase price: 34.17 ETH
- ETH Multi-head size: approximately 2800 ETH
I've been selling NFT.
It was reported that Huang had previously sold NFTs on several occasions to provide additional funds for its leverage ETH transactions. This type of operation indicates that he is converting less liquid NFT assets into ETH, which can be used directly for bond management.
Their past transactions also show that such highly leveraged operations have resulted in losses of millions of dollars. This re-sale of NFT reflects the fact that he continues to choose to maintain multiple openings by disposing of other encrypted assets while ETH space remains.