Trend Research Adjusts ETH Position with Lower Liquidation Price and Nearly $500M in Floating Losses

ETH Position Adjustment and Market Impact

On-chain data reveals that Trend Research has made significant adjustments to its ETH holdings over the past four days. According to analyst tracking, the firm began selling off 188,500 ETH at an average price of $2,263, generating approximately $426M in proceeds.

This move not only reduced exposure but also allowed the firm to repay $385M in leveraged loans, effectively lowering overall leverage.

• Current liquidation range: $1,576 to $1,682
• Primary liquidation zone: near $1,640

Current Holdings and Loss Analysis

Despite the reduction, Trend Research still holds 463,000 ETH, valued at roughly $998M. However, the average cost basis of this position is a high $3,180.

This results in an unrealized loss of $474M, bringing total losses (including realized) to $647M.