Jeffrey Han, a well-known digital asset investor and Taiwanese music celebrity, known as “Machi Big Brother,” recently witnessed a dramatic turn in his cryptocurrency investments. Sitting at over $44 million with unrealized profits, Huang’s unstable Defi and Crypto market exposure has resulted in significant floating losses, highlighting the risk that even intense traders face turbulent blockchain price shaking. The story sheds light on the unpredictable nature of leveraged trading and the ongoing dynamics of crypto market sentiment.
- Jeffrey Fan faces nearly $9 million floating losses on his high lipid account after a sharp drop from his previous big profits.
- Large celebrity leverage positions include $1.2 million in etheric trade and $10 million in plasma token bets, both of which have been affected by recent market volatility.
- Despite current losses, Huang’s account remains profitable overall, with total profits and losses exceeding $11.6 million.
- Whale investors have been actively accumulating plasma tokens and show confidence in a potential price recovery despite future unlocking tokens threatening further sales pressure.
- Market analysts continue to monitor the price trajectory of the plasma token amid key scheduled vesting and unlock events.
Famous traders suffer from large floating losses with crypto leverage
Taiwanese music star and well-known digital asset investor Jeffrey Fan (also known as “Machi Big Brother”) recently found himself on the wrong side of the volatile cryptocurrency market. His high lipid account, linked to Ethereum and Plasma Tokens, has seen a dramatic transition from a profit of around $44 million just 13 days ago to a floating loss of nearly $9 million. The accounts associated with address 0x020C have a highly leveraged position that is vulnerable to market fluctuations.
Huang’s position against a Plasma (XPL) token with 5x leverage included a long bet on price increases. The initial profit was $44 million, and the position currently has an unrealized loss of $8.7 million and the liquidation threshold is $0.5366. Meanwhile, his etheric position, leveraged 15x at a $1.2 million position, earned him a profit with an unrealized profit of around $534,000, with close to $3,836 in liquidation points.
Such a sharp reversal highlights the risk of high-leverage trading as it costs Huang over $115,000 in funding fees. Nonetheless, his overall account remains profitable, with a total PNL of over $11.6 million.
This recent decline follows Huang’s withdrawal from a $25 million high lipid hype position on September 29, with a loss of $4.45 million. The move was prompted by warnings from prominent numbers about unlocking tokens, such as the Maelstrom Fund of Arthur Hayes.
Whales have accumulated plasma tokens and signal optimism
Meanwhile, large crypto investors, or whales, are actively building positions with plasma tokens. Over the past week, the whale wallet has added more than $1.16 million in XPL tokens and $3.83 million worth of tokens have been withdrawn from the exchange, showing optimistic prospects for key holders.
According to LookonChain’s blockchain data, one notable whale, the wallet “0xD80D,” acquired an XPL token worth $31 million earlier this week, increasing its holdings to more than $40 million. Despite this accumulation, future token unlocks scheduled for October 25th threatens further market volatility, with an estimated $90 million worth of XPL set to unlock, potentially increasing sales pressure.
Marketwatchers note that these massive unlocks can cause short-term downward pressures, increasing the complexity of the outlook for a plasma price recovery. Overall, investors’ sentiment is cautiously optimistic, positioning themselves for potential profits in the crypto market and ongoing volatility in debt tokens.