Machi cuts ETH long by 16,600 coins, realizing $2.63M loss
- —About 16,600 ETH cut from the long position within an hour
- —Realized loss came to roughly $2.63 million
- —Remaining position: 10,000 ETH worth $24.5 million
- —Average entry $2,626.94, liquidation price $2,418.47
Why it matters: Machi's large long is under pressure: a drop below $2,418 could trigger liquidation and add to selling pressure on ETH.
Source: PANews