Trend Research Suffers $763M Loss on Long Bet, Over $448M of Principal Gone, ETH Cost Basis Hits $3,180

Inside Trend Research's $763M ETH Long Loss

Trend Research's recent bullish ETH bet has resulted in a staggering $763 million loss. This not only erased their previous $315 million profit gained when ETH rose from $1,000 to $2,000, but also consumed $448 million of their principal capital.

Stop-Loss Execution and Liquidity Management

Chainalysis data shows Trend Research sold 255,500 ETH ($554 million) over five days at an average price of $2,168. These strategic exits aimed to limit downside risk. The firm subsequently transferred $483 million in USDT from Binance to repay leveraged loans and reduce exposure.

Current Position and Liquidation Risks

The firm maintains a 396,000 ETH position valued at $754 million with a cost basis of $3,180 per ETH. However, their loan positions now face liquidation between $1,509-$1,708, with critical levels around $1,560 creating significant vulnerability.

Loss Breakdown

• Total Loss: $763 million ($258 million realized + $505 million unrealized)
• Outstanding Leverage: $526 million
• Current Portfolio Value: $754 million