TrendResearch, an entity that has been accumulating Ethereum (ETH) since last November, has sold most of its holdings, according to Lookonchain. Seven hours ago, the firm deposited 772,865 ETH ($1.8 b...

TrendResearch, an entity that has been accumulating Ethereum (ETH) since last November, has sold most of its holdings, according to Lookonchain. Seven hours ago, the firm deposited 772,865 ETH ($1.8 billion) to Binance. This follows a period of accumulation where the address withdrew a cumulative 792,532 ETH ($2.59 billion) from the exchange at an average price of $3,267. If the recent deposit was sold, the total estimated loss would be $747 million.

TrendResearch sells most of its ETH for estimated $747M loss

Author | Jeff Park (Chief Information Officer, Bitwise)
Compiled by Odaily Odaily(@OdailyChina)
Translator | Dingdang (@XiaMiPP)
Editor's Note: On February 5th, the cryptocurrency market experienced another sharp drop, with over $2.6 billion liquidated in 24 hours. Bitcoin briefly plummeted to $60,000, but the market seems to lack a clear consensus on the causes of this decline. Jeff Park, CIO of Bitwise, offers a new analytical framework from the perspective of options and hedging mechanisms. [...]

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