Machi's Ethereum Leveraged Position Posts Fresh Underwater Mark

On-chain monitoring from analyst Ai Yi reveals that Machi’s Ethereum long position has fallen deeper into losses, signaling continued market pressure on the leveraged trader’s holdings. According to data circulating on January 11, Machi maintained a 25x leveraged long on 10,800 ETH—a substantial bet with significant implications for portfolio management.

Current Position Metrics and Market Impact

Machi continues to maintain this 10,800 ETH holding with an average entry price of $3,138.43. As of the latest market snapshot on January 21, 2026, Ethereum is trading at $2,960, marking a considerable distance from the trader’s break-even level. The position size translates to approximately $32 million in notional value at current prices, representing a meaningful exposure in the leveraged trading landscape.

The unrealized losses have now exceeded $2 million when measured from the peak ETH prices reached on January 7, underscoring the volatile trajectory of Machi’s leveraged bet.

Growing Losses and Market Dynamics

Fresh losses of $287,000 have accumulated since early January, reflecting the ongoing pressure on Machi’s position as Ethereum trades below entry levels. The gap between the entry price and current market levels continues to widen, creating mounting paper losses for this high-leverage exposure. Such aggressive leverage positions—particularly the 25x multiplier employed here—amplify both gains and losses substantially, making risk management critical for maintaining position viability.

Traders monitoring blockchain positions like Machi’s through on-chain analysts such as Ai Yi gain insight into how large leveraged bets are performing amid market fluctuations.