According to on-chain analyst Wu Jin's monitoring, Trend Research recently executed a significant stop-loss, selling 53,589 ETH worth approximately $123 million.
Shortly after, the institution withdrew $121 million in USDT from Binance to cover debts.
The liquidation price of its ETH leveraged position has now dropped to around $1,810, suggesting further downside risk could trigger more forced sales.
- Currently holds 598,000 ETH valued at about $1.33 billion
- Average acquisition cost at $3,180
- Total losses amount to $613 million, including $47.4 million realized and $565 million unrealized
This sequence of actions highlights increasing market volatility and the tightening risk management practices among institutional investors.