Trend Research liquidates entire Ethereum position… $700 million loss

Doohyun Hwang

Summary

It reported that Trend Research transferred about 31,073 Ethereum (ETH) it held to Binance, effectively winding down the entire position.
It said Trend Research is estimated to have bought a total of 651,500 Ether at an average of about $3,180, then sold it at an average of about $2,053.
It reported that the resulting cumulative loss was tallied at about $734 million.

Trend Research has disposed of its large Ethereum (ETH) holdings in full, effectively moving to a complete liquidation.

According to data from Arkham Intelligence on the 7th (local time), Trend Research transferred about 31,073 Ether it held that day to Binance. This effectively means Trend Research has wound down its Ethereum position in full. The associated on-chain address currently has only 0.165 ETH remaining.

Trend Research had previously drawn market attention by moving large amounts of Ether to exchanges over a short period. Trend Research is estimated to have purchased a total of 651,500 Ether at an average of about $3,180, and then sold it at an average of about $2,053. The cumulative loss from this is estimated at about $734 million.

ETH