Ma Ji, also known as Huang Licheng, is facing potential liquidation of his Ethereum position after significant losses. Initially, Ma Ji used $500,000 to establish a long position in ETH at $2,840. As ETH prices surged to $3,200, his position value increased to $3.34 million. However, in an attempt to amplify profits, he rolled over his position, raising the liquidation price to $3,000. The recent downturn in ETH prices, which fell below $3,000, triggered two liquidations, reducing the position's value to $730,000. This has effectively wiped out the profits, leaving the position just $42 away from the liquidation threshold.