Famous Whale Loses $8.4 Million in a Week: Account Dwindles, but Ethereum Long Remains Open!

Machi’s weekly loss reached $8.44 million, bringing the account value back below $1 million, but the investor continued to hold an Ethereum long worth about $25 million.

According to data shared by Lookonchain on October 9, the tracked account of the investor known as Machi took a heavy hit in the market downturn. Despite a reported loss of $8.44 million in one week, the account still holds a large bullish Ethereum position.

The latest post put the open long at 9.950 ETH, worth $24.68 million. The account value and this figure are different measures: The total size of the long does not represent the cash in the account or the investor’s total wealth.

New liquidation level for Ethereum long

The newly reported liquidation price for the position is $2,431.59. If the collateral conditions remain unchanged, a drop in Ethereum to this level would put the position at risk of being forcibly closed.

In an update the previous day, Machi was reported to have closed longs in Bitcoin, HYPE, and PUMP to limit losses and focused on Ethereum, holding a 29.000 ETH long. In the latest data, that position has fallen to 9.950 ETH; the post did not explain how much of the reduction was due to liquidation, voluntary closures, or other transactions.