Maji's rolling long position on ETH has basically given up its profits, and is now only $42 away from the liquidation price.

According to ME News, on December 6 (UTC+8), on-chain analyst Yu Jin reported that Machi (Jeffrey Huang) has nearly given back all the profits from his rolling long positions on ETH and is now only $42 away from the liquidation price. This time, Machi used $500,000 to start rolling long positions on ETH from $2,840. When ETH surged to $3,200 the day before yesterday, the $500,000 grew to $3.34 million. While rolling positions amplified the gains, it also raised the liquidation price to $3,000. As a result, early this morning ETH retraced and dropped below $3,000, causing two liquidations in the position. The position value has fallen from $3.34 million back down to $730,000, with most of the long profits essentially given back. The remaining position is now only $42 away from the liquidation price. (Source: MetaEra)