Despite the nearly $9 million loss, Machi and other large investors are betting on the price of the XPL token recovering.
Taiwanese music celebrity and high-profile digital asset investor Jeffrey Huang, also known as “Machi Big Brother,” is facing a nearly $9 million floating loss on his Hyperliquid account.
Account “0x020c” associated with Huang, who is also a popular Bored Ape Yacht Club collector, is approaching a floating loss of $9 million on decentralized exchange (DEX) Hyperliquid.
From a profit of approximately $44 million just 13 days ago, the celebrity is now sitting on an unrealized loss of $8.7 million on their 5x leveraged long position, which involves betting on the price appreciation of the Plasma (XPL) token, according to blockchain data from Hyperdash. The position has a liquidation threshold of $0.5366.
