Trend Research’s Ethereum Exit Results in Nearly $750 Million Losses, but Did It Sell at the Bottom?

Trend Research, an investment firm associated with Jack Yi of Liquid Capital, has liquidated its entire Ethereum (ETH) holdings, resulting in an estimated loss of nearly $750 million. The firm transferred 651,757 ETH, valued at about $1.34 billion at the time of transfer (average price $2,055), to Binance to close out a leveraged position built on the Aave lending protocol. Trend Research had used its initial ETH purchases as collateral to borrow stablecoins, which were then reinvested to buy more ETH, amplifying both exposure and liquidation risk as ETH's price declined over 30% in the past month.

Rather than face forced liquidation amid the market volatility, Trend Research chose to unwind the position voluntarily. This exit contrasts sharply with the strategy of other firms like BitMine, which has continued to accumulate ETH despite unrealized losses. The timing of Trend Research's sale has sparked debate among analysts regarding whether the move signals a market bottom for Ethereum, with some suggesting such large capitulations often occur near major lows. If a bottom is near, BitMine's accumulation may be timely; conversely, if the downturn continues, Trend Research's decision to de-risk will appear prudent.

(Source：BeInCrypto)