Machi Big Brother Sells 3 Mutant Apes at 1 ETH Each, Taking an 85% Loss in Ethereum (ETH)
Key Takeaways
- •Machi Big Brother, also known as Jeff Huang, sold three Mutant Ape NFTs at 1 ETH each in on-chain transactions dated Oct. 23.
- •The 1 ETH sale price for each token represents an 85% loss measured in Ethereum terms, independent of dollar conversion.
- •His wallet, machibigbrother.eth, held a 315 ETH long position on the decentralized perpetual futures Hyperliquid at the time of the sales.
- •That futures position carried an unrealized loss of about $27,900 and sat less than 1% above its liquidation price, with any closure executed automatically by the protocol.
- •Mutant Ape Yacht Club, launched by Yuga Labs in 2021 as a companion to the Bored Ape Yacht Club, ranks among the most actively traded blue-chip NFT collections.
Machi Big Brother, the crypto trader and NFT collector also known as Jeff Huang, sold three Mutant Ape non-fungible tokens (NFTs) at 1 ETH each in a string of transactions recorded on-chain on Oct. 23, according to on-chain records. The reported sale price represents an 85% loss in Ethereum (ETH) terms — a decline measured in ETH itself, independent of any dollar conversion. Because NFT transfers settle on public blockchains, the price and timing of each sale are directly auditable by anyone.
The disposals came as the wallet machibigbrother.eth, which on-chain records tie to Huang, held a 315 ETH long position on Hyperliquid, a decentralized perpetual futures exchange. That position was marked to an unrealized loss of about $27,900 and sat less than 1% above its liquidation price — the threshold at which the position would be automatically closed. Perpetual futures are leveraged contracts with no expiry date, and on decentralized venues like Hyperliquid, the closure of a position that crosses its liquidation threshold is executed by the protocol rather than a broker. With a cushion of under 1%, the position was, at the time of the records, on the edge of that automatic mechanism, and any subsequent change — added margin, a reduced size, or a liquidation — would appear in the same public on-chain records.
The Mutant Ape Yacht Club is an Ethereum-based NFT collection created by Yuga Labs, the company behind the Bored Ape Yacht Club. It debuted in 2021 as a companion collection to the Bored Ape series and has long ranked among the most actively traded blue-chip NFT collections, a label generally applied to projects with sustained trading activity and established collector bases. Huang, a Taiwan-based entrepreneur and musician, has been a prominent figure in NFT and perpetual futures trading circles, and his leveraged positions on decentralized exchanges are regularly tracked by on-chain analytics accounts, making the activity of high-profile wallets visible to a broad audience of traders.
This content was first published on COINOTAG.
