Machi Big Brother Bets $176M on ETH, XPL Longs at Hyperliquid

Crypto investor Huang Licheng, aka Machi Big Brother, has taken an aggressive position on the decentralized derivatives platform Hyperliquid. On-chain monitoring from EmberCN shows Huang has established the largest long positions in Ethereum and XPL on the platform, with exposure also to HYPE. The combined value of his holdings stands at more than $176 million. This signals one of the boldest leveraged bets in the market this month.

Heavyweight Positions on Hyperliquid

According to data, Huang currently controls a long position of 30,780 ETH. Which is worth around $128 million at an opening price of $4,278. The position liquidation level is set at $3,815 placing it within reach if volatility increases. Alongside Ethereum, Huang has committed to a 26.55 million XPL long, valued at $29.9 million. With an entry price of $1.40 and a liquidation price of $0.67. 

In addition, he holds 410,000 HYPE tokens worth $18.47 million. Which he purchased at $44.40 with liquidation at $17.40. Together, these leveraged positions make Huang the single largest long holder of ETH and XPL on Hyperliquid. The scale of his exposure underscores his conviction. Also, the risks tied to such concentrated bets in a market known for rapid price swings.

Risk Profile and Leverage Exposure

Hyperliquid account data shows Huang total position value exceeds $165 million. This is supported by a leverage ratio of 10.82x. Nearly 99% of the available margin is in use. That leaves little buffer in the event of sharp price corrections. His portfolio is fully tilted toward the long side. With 100% directional bias and zero short exposure. 

Current unrealized losses stand at over $12 million for the week. This translates to a negative return on equity of -81.14%. This setup shows the precarious balance between potential upside and downside. If ETH and XPL prices move in his favor the payoff could be significant. But the narrow liquidation thresholds increase the possibility of forced position closures if markets reverse.

Market Impact and Community Reaction

Huang has developed a reputation for taking large and sometimes controversial positions. His latest moves on Hyperliquid have sparked debate within the community. Some see the positions as a high conviction signal. That Ethereum and XPL could rally further in the coming weeks. Others argue the risk profile is unsustainable, particularly with macro uncertainty and market volatility still elevated.

For Ethereum, the positioning reflects growing confidence around its ETF flows and on-chain activity. The large allocations may also be read as a show of faith in emerging ecosystems. That is tied to the Hyperliquid trading environment for XPL and HYPE. Still, the exposure size means Huang personal outcomes could be highly sensitive to market shifts.

High-Stakes Gamble Ahead

Machi Big Brother strategy places him at the center of attention on Hyperliquid. His trades are closely tracked by analysts and retail traders. Whether his $176 million bet pays off or results in costly liquidations. That will likely hinge on near term price action in Ethereum and mid-cap tokens like XPL.

In a market driven as much by sentiment as by fundamentals. Huang positions serve as a statement of conviction and a reminder of the risks embedded in high leverage trading. Currently, all eyes are on whether the market validates his gamble or forces a dramatic unwinding of one of the largest positions on the platform.