Crypto Whales Diversify Holdings: Machi Sells Bored Ape for Ethereum

Machi has made headlines in the crypto community after selling one of his Bored Ape NFTs to raise margin for an existing long position in Ethereum.

The Bored Ape, number #251, was sold at a loss of 6.99 ETH, worth around $12,400, according to recent market data.

This move is aimed at topping up the funding for his massive ETH long position, valued at a substantial $9.38 million with a liquidation level set at $1,756.76 per ETH.

The current price of Ethereum sits at $1,786.49, placing it above key support levels such as the 50-EMA and 200-EMA.