Majie Adds $3.2M to Ethereum Long Position, Leaving Only $110K in Account

According to monitoring data from HyperInsight, Majie, also known as Melon, recently increased his Ethereum long position, with the nominal value of the position now at $3.2 million. The average entry price was $2,024.42.

Currently, only $110,000 remains in Majie's account, signaling a highly concentrated bet on the Ethereum market.

Since Ethereum's price was $4,700 in September last year, he has been consistently building his long position. In early 2024, the funds used for topping up his position came from assets he deposited into the PleasrDAO treasury five years ago, suggesting that Majie’s available liquidity might be near its limit.

Data shows that over the past six months, Majie’s account has seen a drawdown of up to $74 million from its peak profit, reflecting the significant impact of market volatility on his holdings.