Machi Big Brother Sells Bored Ape #6801 at 14.89 ETH Loss Following Another Hyperliquid Liquidation
Key Takeaways
- •Machi Big Brother sold BAYC NFT #6801 for 8.61 ETH, incurring a loss of 14.89 ETH (approximately $28,000) compared to the 23.5 ETH purchase price from three years earlier.
- •Over the preceding month, Machi sold 34 Bored Apes for 326 ETH, with their aggregate acquisition cost approximately 399 ETH higher than the total sale proceeds.
- •Machi is liquidating NFT holdings to fund leveraged ETH long positions on Hyperliquid, which have experienced repeated forced liquidations as cryptocurrency prices declined.
- •One of Machi's earlier leveraged positions used 25-times leverage with a liquidation level near $1,560.81, leaving it vulnerable to modest Ether price declines.
- •Despite the ongoing sell-off, the MachiBigBrother wallet remains the largest BAYC holder with 137 Apes, representing approximately 1.37% of the 10,000-item supply.
Machi Big Brother has sold Bored Ape Yacht Club NFT #6801 after another liquidation reduced his leveraged Ether position on Hyperliquid, a decentralized perpetual futures exchange.
The NFT fetched 8.61 ETH, far below the 23.5 ETH Machi paid for it three years ago. The transaction locked in a 14.89 ETH loss, equivalent to approximately $28,000 at the time of sale. The disposal illustrates how far BAYC floor prices have retreated from their 2021 peaks, when individual Apes routinely traded for tens or even hundreds of ETH.
The disposal followed yet another forced liquidation as Machi continued to maintain an ETH long through the wallet publicly linked to his Hyperliquid trading activity. The exact size of the latest forced position reduction was not immediately discernible from available transaction records.
The sale price aligned with the Bored Ape collection's floor price of approximately 8.61 ETH. Following the transaction, OpenSea showed the NFT under a new wallet, bringing Machi's three-year holding period to a close.
NFT Sales Fund Leveraged ETH Trading
Machi has been steadily liquidating his Bored Ape holdings to sustain leveraged ETH exposure even as falling prices and repeated position closures have eroded his trading capital. The pattern reflects a broader unwinding of NFT-era positions as blue-chip collection valuations have compressed alongside the prolonged crypto market downturn.
In early July, he sold three Bored Apes for 27.42 ETH while simultaneously carrying a 2,600 ETH long on Hyperliquid. Those three NFTs had originally cost a combined 52.42 ETH, resulting in a loss of roughly 25 ETH on the sales.
Over the preceding month, Machi sold 34 Bored Apes for a total of 326 ETH, compared with an aggregate acquisition cost approximately 399 ETH higher. The single largest individual loss in that batch came from Bored Ape #6057, which sold for 7.65 ETH after being purchased for 76.84 ETH four years earlier.
These disposals occurred against a backdrop of repeated liquidations that depleted the capital supporting Machi's ETH trades. One earlier position employed 25-times leverage with a liquidation level near $1,560.81, leaving the account vulnerable to even modest declines in the Ether price.
Machi Remains BAYC's Largest Holder
The latest sale is part of an ongoing shift in Machi's portfolio from NFT holdings into capital for leveraged trading. In May, he disclosed ownership of 182 Bored Apes prior to the subsequent series of disposals.
Despite those sales, OpenSea's current holder rankings still list the MachiBigBrother wallet as the collection's largest holder, with 137 Bored Apes representing approximately 1.37% of the 10,000-item supply.