Trend Research Incurred $763 Million Loss on Long ETH Positions, Stopped Loss on 255,500 ETH

According to on-chain analyst Yu Jin, Trend Research previously made a profit of $315 million by going long on ETH, but this long position has now resulted in a loss of $763 million. This not only wiped out all previous profits but also incurred an additional loss of $448 million in principal.

Since the afternoon of August 1st, Trend Research has cumulatively sold 255,500 ETH at an average price of $2,168 to stop losses, amounting to $554 million. They also withdrew 483 million USDT from Binance to repay loans and reduce leverage. Currently, the liquidation prices for several of their ETH loan positions have dropped to the range of $1,509 to $1,708, with most concentrated around $1,560.

Currently, Trend Research still holds 396,000 ETH, valued at $754 million, with an average cost basis of $3,180. Their total loss has reached $763 million, comprising $258 million in realized losses and $505 million in unrealized losses. They still have $526 million in leveraged loans outstanding.