Exciting ! Well-known Taiwanese crypto investor Machi Big Brother heavily invested in Ethereum (ETH) and XPL on the decentralized perpetual swap exchange Hyperliquid, using 15x to 25x leverage. His position peaked at nearly $200 million, resulting in short-term profits exceeding $42.6 million. However, during the market volatility in September, he lost nearly $30 million, even incurring a $20 million floating loss at one point.
Maji Whale enters the market with high leverage
Huang Licheng established a long position in Hyperliquid in May, with a core stake of 30,780 ETH, totaling approximately US$128 million. The average opening price was approximately US$4,278, the liquidation price was approximately US$3,815, the leverage ranged from 15 to 25 times, and the exposure was estimated to be US$125 million.
At the same time, it holds 26.55 million XPL, with a market value of approximately US$29.9 million, an opening price of approximately US$1.4, a liquidation price of US$0.67, and a leverage of 10 times.
Large fluctuations in floating profits and losses
In the first four months, the Machi Big Brother book profit reached as high as US$42.6 million. However, within six days at the end of September, the market plummeted, wiping out about US$30 million in profits. He was forced to add US$4.72 million in USDC margin. At that time, the unrealized losses of ETH and XPL totaled US$21.77 million.
At the deepest point, the floating loss exceeded US$20 million. Later, with the market rebound or position adjustment, on-chain statistics showed that the loss converged to approximately US$9.5 million.
The whale effect amplifies market volatility
Large positions not only affect individual fortunes but also directly impact liquidity. A $48.8 million short position in ETH with 5x leverage was liquidated, triggering a bull-short stampede. For the more volatile XPL, net liquidations reached $31.24 million in a single day, with long positions accounting for $14.2 million.
Specific sell-offs even triggered a chain of liquidations, and Huang Licheng's positions were also under pressure. The market can only look up to this "leverage genius" for now. After all, even if Maji loses, he still has the money.
