Trend Research has liquidated approximately 188,500 ETH, valued at around $426 million, over a four-day period beginning February 1st. According to NS3.AI, this was achieved through stop-loss orders. The firm repaid about $385 million in USDT to decrease leverage, which subsequently lowered the liquidation prices of several ETH lending positions to approximately $1,640. Despite these actions, Trend Research continues to hold around 463,000 ETH.

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