According to on-chain analyst Ai Aunt (@ai_9684xtpa), on February 8 Trend Research completed the transfer of its remaining 0.148 ETH, marking the complete liquidation of its ETH holdings. This massive sell-off spanned 8 days, with a total of 658,168.58 ETH sold, equivalent to approximately $1.354 billion at current prices.
Analyses revealed that the average selling price was $2,058.05, while the cost basis stood at $3,104.36 per ETH, leading to a staggering loss of $688 million. The $315 million profit accumulated in the previous market cycle was entirely erased, resulting in a net loss of $373 million.
This move has drawn significant market attention, with the firm’s asset strategy and fund flows becoming a focal point of industry discussions.