According to on-chain data, "Brother Ma Ji" Huang Licheng's latest Ethereum holdings as of April 2, 2026, are still operating with high leverage and have been actively reduced to delay liquidation.

Below are his latest position details and risk analysis:

📊 Core Data of the Latest Position

· Current holdings: approximately 5,000 ETH (worth about $10.22 million).
· Leverage multiple: 25x (extremely high risk factor).
· Entry average price: about $2,084.5 (earlier positions had higher costs, which have been cut).
· Liquidation price: about $2,031.5 (now lowered to this level).
· Current status: critically dangerous, ETH price is approximately $2,048**, with only a tiny margin remaining before liquidation.

🩺 Risk Breakdown

· Operation review: Facing the first near-liquidation (only $13 away), Brother Ma Ji manually cut 1,700 ETH**, incurring a loss of about **$48,000**, which lowered the liquidation price from $2,040.5 to the current $2,031.5.
· Market logic: This illustrates the brutality of high leverage. Although ETH overall is relatively stable, Brother Ma Ji’s margin is extremely fragile, and any slight negative market move could force a forced liquidation.

💡 Core Risk Warning

This data only reflects the risk exposure of a specific large on-chain holder and is not investment advice.

High-leverage contracts are extremely risky bets. Currently, this position is "life hanging by a thread"; if ETH drops below $2,030, this multi-million dollar position will be immediately liquidated by the system.
$16 $ETH ‌