According to blockchain data, Ma Ji Ge (Huang Licheng) recently closed long positions on Bitcoin and HYPE and made significant adjustments to his positions. He currently concentrates most of his positions in Ethereum, holding about 6,800 ETH in 25x leverage long positions, with a liquidation price around $2,039—very close to the current price, resulting in extremely high risk.

#Gate广场四月发帖挑战 “A win rate of 80% over the past week.” This data most likely comes from statistics of his associated addresses (for example, 9 positions closed within a week, with 7 of them profitable). However, this high win-rate figure is seriously misleading:

First, a high win rate does not equal profits. The statistics only show the proportion of trades that were profitable, without accounting for the profit or loss amount per trade. In reality, during the same period, this address had a total profit and loss of approximately a loss of $419,000, with an ROI of -135.1%.

Second, this reflects his high-risk trading pattern. Ma Ji Ge has long used ultra-high leverage of 25–40x for high-frequency trading, and is a well-known “frequent liquidation offender” in the crypto community, with a historically massive cumulative loss. After closing his positions on Bitcoin and HYPE, he went all-in on ETH—an example of high leverage, highly concentrated directional betting behavior.

Key takeaway: Please be sure to view trading data from such “big shots” rationally. Ma Ji Ge’s trades are known for their high “gambling” nature, and his short-term win rate has no reference value for ordinary investors. Ordinary investors should never blindly imitate such extremely high-risk trading strategies. Leveraged contract risks are extremely high and may lead to the total loss of principal.