Analyst: Trend Research's recent long not only gave back all of its previous profits of $315 million, but also resulted in a loss of $448 million in principal. According to Mlion.ai , on-chain analyst EmberCN's monitoring shows that Trend Research, owned by Yi Lihua, has suffered significant losses in its investments in the Ethereum (ETH) market. Previously, they long on ETH starting at $2,000 and sold when the price reached $4,000, making a profit of $315 million. However, this operation has resulted in a loss of $763 million, not only losing all the previous gains but also the principal of $448 million. Over the five days starting from the 1st of this month, Trend Research sold 255,500 ETH at an average price of $2,168, totaling $554 million, as a stop-loss order. Meanwhile, it withdrew $483 million in USDT from Binance to repay debt and reduce leverage. The liquidation price for its ETH lending positions has fallen to between $1,509 and $1,708, currently mainly concentrated around $1,560. TrendResearch currently holds 396,000 ETH, worth a total of $754 million, with an average cost of $3,180, and also has $526 million in leveraged borrowing.