Machi's Ethereum long position has now become a 'meme' - $74 million loss in six months

gas_fee_therapist · 2026-03-23T19:22:40+00:00

Huang Licheng, a well-known trader, faces a dire situation as his Ethereum strategy results in a staggering loss of $74 million. With only $9,000 remaining in his account, this case serves as a cautionary tale about risk management and the dangers of leverage in cryptocurrency trading.

gas_fee_therapist

2026-03-23 19:22:40

Abstract generation in progress

According to BlockBeats’ report on March 2nd, which has become the most talked-about ‘loss meme’ in the blockchain community, the situation of renowned trader Huang Licheng is truly concerning. Data from HyperInsight shows that his account has only $9,000 remaining, a stark reminder of his once-ambitious Ethereum strategy.

Account Crisis: The Story of Loss Limited to $9,000

Known as “Old Daji,” Huang Licheng adopted an aggressive approach to Ethereum last September. At that time, he continuously held long positions at the $4,700 level, but this decision proved unsuccessful. Currently, Ethereum’s price is around $2,180, meaning his strategy has suffered approximately a 54% loss. This loss is not just a statistic — it has become a warning within the blockchain community.

From $4,700 to $2,180: The Math Behind the Ethereum Long Position

Huang Licheng currently holds a long position of $300,000 worth of ETH at an average open price of $1,976.04. Over this six-month journey, he has endured a total loss of $74 million. This figure is not just a number — it symbolizes a trader’s fate, patience, and failure of market timing. When you bet heavily in the wrong direction, losses reveal how dangerous leverage and overconfidence can be.

PleasrDAO Treasury: When Resources Run Out

The most troubling aspect is that since the end of February, Machi’s risk management funding has been coming from PleasrDAO’s corporate treasury. This is assets accumulated five years ago. The implication is clear: their available cash is nearly exhausted. Having only $9,000 left in the account and relying on old funds — this picture is like a slap in the face for any serious trader.

This entire incident has served as a learning moment for the crypto community. Big losses are not just personal setbacks — they become a ‘meme’ for the entire trading community, a message emphasizing the importance of risk management and position sizing. A $74 million loss over six months is not just headlines; it’s a lesson.

ETH4.53%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

1 Likes