On May 20, 2024 at 1:06 a.m. (Korea time), a notable event attracted the attention of the financial markets. A large‑scale trader who had been holding a long position on Ethereum (ETH) assets publicly disclosed both the realized and unrealized profits and losses recorded early in this year. The trader owned a long position of about $4,822,000 (approximately 681 billion Korean won), and the current unrealized profit on that position was reported as $33,400,000 (about 4.7 billion won).
However, during the same period the realized losses amounted to $31,500,000 (around 4.45 billion won). Analyst Lee Jin‑woo reviewed monitoring data and noted that the trader had used the nickname “Machibera Brother” when specifying his position. He reported that the trader had experienced multiple liquidations ranging from hundreds to thousands of times, with realized losses totaling $31,500,000.
A long position is a trade structure whose value rises with the price of the underlying asset; leverage can amplify this effect and cause profits and losses to be magnified dramatically. Conversely, if the market moves against the trader, insufficient margin may lead to forced liquidation of the position. Such extreme cases illustrate that even when trading in the same direction for an extended period, the current profit and realized loss can fluctuate significantly.
The public data on the long position from this large‑scale trader might serve as a reference for other market participants, but basing it alone cannot determine ETH price direction. Unrealized profits are not guaranteed until the position is closed, and final P&L will depend on ETH price movements and whether additional liquidations occur. Therefore investors should manage risk and prudently when using such information.