Machi Returns to $PUMP and $HYPE With High-Leverage Bets But With a Floating Loss of $5.7M
Crypto trader Machi (@machibigbrother) has returned to trading and just opened fresh long positions in $PUMP and $HYPE, this time using 5x leverage.
Meanwhile, Machi still maintains large long positions on Ethereum and Bitcoin of 25x and 40x leverages, respectively. These larger positions have already incurred an unrealized loss of approximately 5.7 million dollars.
Machi Betting Big on Meme Tokens
Machi is getting new positions in $PUMP and $HYPE at a period when the meme-based tokens are gaining momentum again with retail traders.
The two tokens have attracted speculators who enjoy volatility due to their higher liquidity and sharp price movements.
The moderate leverage on the positions compared to the higher leverage of his positions in Bitcoin and Ethereum makes Machi seem like he is attempting to diversify his risk yet also expose himself to tokens with an oversized short-term potential.
Heavy Leverage Brings High Risk
Machi’s meme coin plays have been in the news, but his bigger bets are still on Ethereum ($ETH) and Bitcoin ($BTC). He has 25x and 40x leverage on Ethereum and Bitcoin, respectively.
Price shifts can become enormous profits or losses in a few hours even with the smallest moves.
When there is a large trade by a high-profile trader such as this one, they gain attention in the market, as their trading will be able to affect liquidity and mood.
The negative aspect of this situation is that the high level of leverage he uses exposes him to liquidation if the market turns against him.
His recent investments in meme coins like $PUMP and $HYPE have sparked new discussions about meme coins, while his larger investments in $BTC and $ETH continue to represent a balance with significant risk.
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