TechFlow News: On February 6, blockchain analyst EmberCN (@EmberCN) reported that Trend Research—owned by Yi Lihua—previously went long on ETH starting from a price of $1,000–$2,000 and sold at $4,000, earning $315 million. This time, however, its long position has incurred a loss of $763 million—erasing all prior profits and additionally losing $448 million of principal.
From the afternoon of February 1 until now—a span of five days—Trend Research has cumulatively liquidated 255,500 ETH at an average stop-loss price of $2,168, totaling $554 million. It then withdrew $483 million in USDT from Binance to repay loans and reduce leverage.
The liquidation prices of its multiple ETH lending positions have now dropped to the range of $1,509–$1,708, primarily clustered near $1,560.
Current holdings: 396,000 ETH ($754 million), with an average cost basis of $3,180 per ETH.
Total loss: $763 million (realized loss: $258 million + unrealized loss: $505 million)
Outstanding leveraged borrowings: $526 million
