Majic has significantly reduced its Ethereum long position by 1,800 ETH as the cryptocurrency market experiences a downturn. The move, monitored by HyperInsight, saw Majic's 25x leveraged long position in ETH decrease to 500 ETH, valued at approximately $8.69 million. The liquidation price for this position now stands at $1,886.59. Following this adjustment, Majic's account balance has dwindled to just $43,000, with cumulative losses amounting to $25.9 million. This strategic reduction comes as part of efforts to manage risk amid volatile market conditions.