Trend Research’s ETH Bet Vanishes-On-Chain Reveals All

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Darling, Trend Research-led by the urbane Mr. Jack Yi of Liquid Capital-has waved farewell to its Ethereum positions, exiting Asia’s most flamboyant ETH long and leaving the rest of us to pretend we weren’t watching the curtain rise and fall in the same breath.

At the zenith, the outfit flirted with roughly $2.1 billion in leveraged Ethereum longs, financed by borrowing stablecoins against ETH collateral-a little chorus line of bravado, if you will.

Bullish Tweets, Brutal Exit

Arkham, that ever-watchful custodian of on-chain whispers, revealed the final ETH position was closed on Sunday. The exit carried a realized loss of about $869 million-a considerable bow, even by theatre‑going standards. The coup de théâtre followed several days of trimming as Ether slid toward the $1,750 mark, sending tremors through those leveraged crowd scenes.

Just days before the final curtain, Yi had spoken of remaining bullish on the next big bull market, even predicting ETH beyond $10,000 and Bitcoin above $200,000. He described the firm as having made “partial adjustments to manage risk.”

He also addressed broader market conditions-talk of liquidity, whispers of platform-driven manipulation. Yet the long‑term arc of the crypto affair, he asserted, remained intact. To him, current prices looked like a perfectly proper entrée for spot positions when viewed over a multi‑year horizon, with the caveat that volatility has historically bullied many a bullish guest out of the room before the encore.

Accumulation Trend During Market Stress

In the theatre of market stress, Ethereum “accumulating addresses”-wallets with no history of outflows, balances of at least 100 ETH, and no ties to exchanges, miners, or smart contracts-hold about 27 million ETH, according to CryptoQuant. That figure is roughly 23% of Ether’s circulating supply, a surprisingly resilient chorus.

CryptoQuant adds that the altcoin has traded below the realized price of these accumulating addresses only twice in its history. The first was during a market lull in 2025, and the second has unfolded since January 2026. In short, these patient hoarders have continued to add to positions even as prices declined and leveraged trades were unwound, bless their determined little hearts.

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2026-02-11 23:08