On-chain data shows that Trend Research has transferred approximately 630,000 ETH to Binance, nearly 95% of its historical peak holdings. The market generally interprets this as a complete liquidation rather than a simple deleveraging operation. With ETH falling by about 46% in the past month, this long position, which was originally worth as much as $2 billion, has quickly reversed from a break-even point to a huge loss.
Yi Lihua has already cut 95% of his 2 billion USDT Ethereum position at a loss.
On-chain analyst Yu Jin stated that Trend Research founder Yi Lihua has transferred a total of 630,000 ETH to Binance, which typically indicates he intends to sell and exchange them for USDT to reduce leverage. Trend Research's peak holdings of 661,272 ETH also represent approximately 95% of its positions being sold at a loss, tantamount to surrender, rather than simply reducing leverage. Four days ago, it was reported that Yi Lihua's positions had already lost $554 million; after today's large-scale ETH sales, the overall loss is likely close to $1 billion.
At the time, Yi Lihua stated: "As the person under the most pressure online, I must first admit that it was indeed a mistake to be bullish on ETH too early after clearing out my positions at the top. BTC was around 100,000, while ETH had been consistently around 3,000, which we considered undervalued. Currently, the previous round of profits has been retraced, and position size dictates our strategy. While controlling risk, we will continue to wait for the market to move upwards. Thank you for your concern. Investing and trading are the most difficult things; being in this industry, it's always tempting to be bullish."
He recently responded : "I've focused on investing and trading in the crypto for 10 years. My conclusion is that profits come from bull markets, and drawdowns come from bear markets. Life is a long journey, and every stage will bring setbacks and unfortunate encounters. Like many years ago, when someone wrote a smear article and falsely accused me (may he remain in darkness forever). I've also experienced numerous failed investments, but my resilience has been built through hardship, and maturity comes through growth. May everyone maintain confidence and hope, and together we will all improve."
In one month, ETH dropped by 46%, and Yi Lihua went from making a profit to taking a loss and exiting the market.
Ironically, it's only been a month since the last report that Yi Lihua's 660,000 ETH position broke even. Trend Research's 2 billion ETH position, however, went from profitable to a loss within a month. In that short period, Ethereum dropped by 46%.
Currently, Trend Research still has a small amount of ETH remaining on its blockchain. Renowned Texas Hold'em player Wesley speculates that Yi Lihua himself has likely been liquidated. He may have had a guarantee agreement with investors, thus he must now liquidate his holdings at any cost to return the funds. An unrelated twist is that Trend Research's Binance deposit address is the same as that of Garret Jin, who was liquidated earlier.
This article, titled "It Only Took One Month to Recover and Surrender: ETH Plunged 46%, Yi Lihua Cut His $2 Billion Position," first appeared on ABMedia, a ABMedia .
