According to ChainCatcher, on-chain analyst Yu Jin has observed significant movements in Ethereum (ETH) trading. Following a recent increase in ETH prices, trader Huang Licheng, also known as Machi, has seen a floating profit of $1.35 million. Earlier, Machi experienced a liquidation after profits were wiped out.
Machi's trading strategy involved opening long positions on ETH, starting on the 2nd at $2,840. By the 4th, he had achieved a profit of $2.84 million. However, a minor market correction on the 6th resulted in the loss of these gains and subsequent liquidation. The latest rebound in ETH prices has once again placed his position in a profitable state, with a floating profit of $1.35 million.
