What happened to "Maji"'s Ethereum long position from a floating profit of 1.1 million to a floating loss?

According to the latest monitoring data, the well-known trader “Brother Maji” Huang Licheng’s Ethereum long position has shifted from an earlier floating profit of $1.1 million to a current floating loss. This change reflects recent volatility in the crypto market and serves as a reminder of the risks associated with high leverage positions.

Position Breakdown: From Profit to Loss

Based on HyperInsight monitoring, Huang Licheng’s address currently holds two main positions:

From this position structure, it is clear that the massive floating loss on the ETH long is the main reason for the overall shift from profit to loss.

Price Drop as a Critical Turning Point

According to relevant data, ETH’s current price is $3,139.91, down 3.86% in the past 24 hours, which is the direct cause of Huang Licheng’s position turning into floating loss.

Although ETH has still increased by 5.61% over the past 7 days, short-term corrections are enough to impact the profit and loss of high-leverage positions. This also highlights a reality: even with a medium-term bullish outlook, short-term volatility can quickly change the situation under high leverage.

Liquidation Risk Assessment

Data indicates that Huang Licheng’s ETH long position faces certain liquidation risks:

• Distance between current price and liquidation price: $3,139.91 vs. $2,952.48, a difference of $187.43, approximately 6% decline
• This means ETH would need to drop about 6% again to trigger liquidation
• Considering the volatility of the crypto market, this safety margin is relatively narrow

In contrast, the 10x leveraged HYPE long position’s risk is relatively controllable, currently still showing floating profit.

Personal Observations

This case exemplifies the dual nature of high-leverage trading. On one hand, 25x leverage can rapidly amplify gains in a bullish market (once floating profit was $1.1 million), but on the other hand, even small corrections can quickly erode profits or cause losses.

Market attention generally focuses on whether these whales will further adjust or add to their positions. If Huang Licheng chooses to hold and wait, ETH needs to rebound at least 6% to regain profitability; if he opts for stop-loss or adding positions, it could impact market liquidity.

Summary

Huang Licheng’s Ethereum long position shifted from a floating profit of $1.1 million to a floating loss, reflecting short-term market adjustment pressures. Although ETH still has upside potential in the medium term (up 5.61% over 7 days), the risks faced by high-leverage positions should not be underestimated. This serves as a reminder to investors that even with a bullish long-term outlook, short-term volatility can be magnified under high leverage. The key follow-up points are whether ETH can stabilize above $3,300 and whether Huang Licheng will adjust his position strategy.