Machi’s NFT Sales Exceed 60 as Trader Faces $2.35M Loss

Machi sold over 60 NFTs to fund trades, incurring a $2.35M loss. Traders are concerned about high-leverage strategies — here's why it matters. Machi, a notable trader, has sold over 60 NFTs in the past six months to fund high-leverage perpetual trades, resulting in a substantial loss of over 1,000 ETH, equating to approximately $2.35 million. This revelation surfaced through a tweet by @lookonchain, highlighting the risks associated with high-leverage trading in the current market landscape. The implications of this situation raise questions about the sustainability of such trading strategies among investors.