According to previous reports from Zombit, Ma Ji Brother Huang Licheng had previously earned millions buying US dollars relying on long positions in HYPE and ETH during a wave of rising. On-chain data shows that his account value on Hyperliquid rose from $11 million on May 30 to $20 million, an increase of over 80%.
However, although Ma Ji Brother took profits on some positions at local highs, he still seems optimistic about the subsequent trend of these two cryptocurrencies, later buying back HYPE and ETH long positions.
When writing this article, Huang Licheng increased his long position of HYPE, which had already been reduced to 365,000, all the way up to 630,000, with an entry cost of $39.3; his long position in Ethereum also reached 11,500, with an entry cost of $2,586.
As is well known, the subsequent trend does not seem to rise as expected by Ma Ji Brother, but instead fell into a correction due to the Middle East conflict. HYPE dropped from a high of $45 all the way down to $35, and Ethereum also fell to the $2,500 level. This correction dealt a heavy blow to Ma Ji Brother's account value. Data shows that Ma Ji Brother's profit and loss (including unrealized) on Hyperliquid fell from $9 million on June 11 to $1.75 million.
It is worth mentioning that even though profits have significantly retreated, Ma Ji Brother still has no plans to stop loss and continues to increase his long position in HYPE.
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