Trend Research started buying ETH at around 1,000 to 2,000 and sold at 4,000, making a profit of $315 million. This time, if they go long, they have already lost $763 million. Not only have they given back all the previous profits, but they have also lost $448 million in principal.

Since the afternoon of the 1st until now, in 5 days, Trend Research has cumulatively sold 255,500 ETH at an average price of $2,168 to stop losses ($554 million), and then withdrew 483 million USDT from Binance to repay and reduce leverage.

Now their multiple ETH lending positions have a liquidation price in the range of $1,509-$1,708, mainly around $1,560.

◎ Currently held: 396,000 ETH ($754 million), average cost $3,180.

◎ Loss: $763 million (realized loss $258 million + unrealized loss $505 million)

◎ Remaining leveraged borrowing: $526 million U