Crypto investor Machi’s $416,000 trading loss on Papertrade fell to around $75,000 thanks to the staking rewards he earned.
According to data shared by on-chain analytics platform Lookonchain, Machi reached $1.41 billion in trading volume on Papertrade but lost $416,000 on those trades. What changed the account’s overall result was not profit from trading, but the rewards earned.
Staking rewards covered most of the loss
Machi earned 57.6 million PAPER tokens on the platform and also received $341,000 in USDC rewards through staking. After accounting for these rewards, the total loss fell to $74,700.
That means rewards offset around 82 percent of the trading loss. Although Machi’s account is still in the red overall, staking returns covered most of the amount lost in trades.
Not investment advice.