On February 7th, according to data from Ember, Trend Research fund is believed to have nearly completed the liquidation of its Ethereum trading positions, closing a period of significant volatility with an estimated net loss on ETH of approximately $734 million. This development quickly attracted the attention of the cryptocurrency community, especially in the context of the market having just experienced major price fluctuations.
Specifically, Trend Research once opened two very large Longing positions in Ethereum. In the first trade, the fund opened a buy position of approximately 231,000 ETH at an Medium price of $2,667 and took profit at an Medium price of $4,027, thereby recording a profit of approximately $315 million. This is XEM a successful trade, reflecting the ability to capitalize on the strong upward trend of ETH during a period of market euphoria.
However, in the next trade, Trend Research opened a much larger Longing position, amounting to approximately 651,500 ETH, with an Medium purchase price of $3,180. When the market reversed and Ethereum plummeted, the fund was forced to close the position at an Medium price of only about $2,053, resulting in a massive estimated loss of around $734 million. This single trade wiped out most of the previous profits Trend Research had earned from ETH, making the overall outlook for this cryptocurrency very negative.
