Machi Big Brother has staged one of the sharpest trading comebacks on Hyperliquid this year, growing an account worth roughly $100,000 into about $9.5 million in two days as Ethereum's rally transformed heavily leveraged ETH longs into multimillion-dollar gains.

The account belongs to Jeffrey Huang, the Taiwanese entertainer and entrepreneur behind the Machi Big Brother handle, who has long been one of crypto's most visible high-stakes traders. That visibility is amplified by the venue: Hyperliquid is a decentralized perpetual futures exchange that has grown into one of the largest derivatives platforms of its kind, and its on-chain ledger makes large traders' positions, margin and liquidations publicly trackable in real time — the reason account swings of this size surface publicly at all.

The account gained roughly $9 million over the two-day run, taking its value to nearly 100 times the starting balance, according to on-chain data shared by Arkham. The reversal follows months of liquidations, fresh collateral deposits and repeated attempts to stay long ETH through a prolonged market downturn.

ETH Rally Reverses Months of Hyperliquid Losses

Ethereum provided the fuel for the comeback. ETH climbed from below $1,920 on August 18 to above $2,500 on August 22, with the strongest leg of the move arriving as Bitcoin, Ethereum and large-cap altcoins accelerated higher across the broader market.

That price action rewarded a trader who had remained aggressively positioned for an ETH recovery even as repeated liquidations stripped capital from the account. Machi faced another major Hyperliquid liquidation in June after rebuilding a leveraged ETH long while his account balance had fallen to roughly $52,000.

The losses had already pushed his trading bankroll close to exhaustion earlier in the year. In March, Machi's Hyperliquid balance fell to near $10,000 after months of leveraged ETH bets and repeated forced exits.

His latest rebound puts the account back into seven figures, although the recovery remains far below the tens of millions lost across the longer trading cycle.

Bored Ape Sales Helped Keep ETH Bets Alive

Machi continued raising liquidity during the downturn by selling Bored Ape Yacht Club NFTs, including assets purchased near the peak of the NFT market — a collection whose valuations remain far below their 2021–2022 highs.

One July transaction saw him sell three more Bored Apes for 27.42 ETH while maintaining a leveraged ETH position near its liquidation threshold.

Another run of sales covered 34 Apes for 326 ETH, while the original purchases represented roughly 725 ETH in cost. The difference locked in about 399 ETH of losses as NFT liquidity was converted into capital for continued trading.

Machi had held more than 200 BAYC NFTs at his peak, making the sales another visible part of the same strategy: reduce NFT exposure, move liquidity into Hyperliquid and keep directional exposure to Ethereum.

Two-Day Run Adds Roughly $9 Million

The comeback follows several smaller reversals earlier this year. Machi briefly returned to profit during a May crypto rally, when large BTC, ETH and HYPE positions produced about $1.27 million in gains over 24 hours.

The latest move is considerably larger. Ethereum's surge through $2,300 and then $2,500 expanded the value of his leveraged longs rapidly, while the same leverage that repeatedly accelerated losses during the downturn amplified the recovery.

The latest account snapshot puts Machi Big Brother's Hyperliquid perps balance near $9.5 million, up roughly $9 million in two days from a starting balance of about $100,000.

Separately, Coinbase has faced fresh criticism from parts of the Ethereum community over claims it is selling ETH, even as Ether trades near $2,442.

Source: Crypto Adventure