From the afternoon of the 1st until now, over two days, Trend Research has cumulatively reduced its holdings by 153,500 ETH ($352 million) at an average price of $2,294, and then repaid 266 million USDT to reduce leverage. Currently, the liquidation price range for their multiple ETH lending positions is between $1,685 and $1,855, mainly concentrated around $1,800. ◎Current holdings: 498,000 ETH ($1.11 billion), average cost price $3,180. ◎Losses: $605 million (realized losses $136 million + unrealized losses $469 million). ◎Existing leveraged loans: $743 million USDT. --------------------------------------------------------- This article is sponsored by @Bitget｜Bitget VIP, lower fees, more benefits

Has HashKey Capital bought the dip in $ETH? An address suspected to belong to them withdrew 6,368 ETH ($14.79 million) from Binance one hour ago. This address received a gas payment from jacobzhao.eth (@jacobzhao94) four days ago. jacobzhao.eth is a portfolio manager at HashKey Capital. Therefore, this address likely belongs to HashKey Capital. Address: --------------------------------------------------------- This article is sponsored by @Bitget | Bitget VIP, lower fees, better benefits

Update: Trend Research continued to reduce its holdings by 20,000 ETH ($46.54 million) 20 minutes ago, bringing its total reduction to 93,589 ETH ($215 million). The company currently holds 558,000 ETH ($1.3 billion).

Last week's purchases by the largest Bitcoin and Ethereum treasury firms: ◎ Bitcoin treasury firm @Strategy (MSTR) purchased 855 BTC ($75.22 million) at $87,974 per BTC. They now hold a total of 713,502 BTC ($54.263 billion), with an average cost of $76,052 per BTC, resulting in a paper profit of $1.332 billion. ◎ Ethereum treasury firm @BitMNR (BMNR) purchased 41,787 ETH ($108 million) at approximately $2,601 per ETH. They now hold a total of 4,285,125 ETH ($9.941 billion), with an average cost of $3,837 per ETH, resulting in a paper loss of $6.5 billion. --------------------------------------------------------- This article is sponsored by @Bitget | Bitget VIP, lower fees, better benefits

Trend Research just reduced its holdings by another 20,000 ETH ($45.52 million), bringing its total reduction to 73,589 ETH ($168 million).

Trend Research continues to reduce its losses: It just transferred another 10,000 ETH ($22.01 million) into Binance.

The current price is a mixed bag, with significant divergence between bulls and bears. Some institutions like Trend Research are cutting losses and reducing leverage at this price, while some whales are increasing leverage. It's a classic case of "mutual folly." For example, this whale/institution, which has been dormant for 5 years, went long on ETH in cryptocurrencies early this morning: Collateralizing 44,500 ETH ($102 million) and borrowing 70 million USDT, they bought another 30,222 ETH at $2,316. The ETH they collateralized was withdrawn from Bitfinex 5 years ago when the ETH price was $1,354. Currently, they have a profit of $42.57 million. Address: --------------------------------------------------------- This article is sponsored by @Bitget | Bitget VIP, lower fees, better benefits

Trend Research just withdrew 6,411 ETH ($15.41 million) from Binance back onto the blockchain. This... 10,000 ETH were transferred to Binance, and then 6,411 were withdrawn two hours later. Did they cut some losses but then decide they couldn't bear to sell more?

With the price of ETH at $2,650, Trend Research's 651,500 ETH ($1.83 billion) are now showing a paper loss of up to $345 million.

Another enemy team has fallen.