In the world of cryptocurrency, many only focus on the 'hundredfold myth'
Yet very few can understand the 'whale's retreat'
Recently, the legend who came out of Loudi, Hunan—Yi Lihua
Gave the entire market a $688 million lesson in risk management
When everyone thought he would go bankrupt to zero amid the crash of ETH
He used an extremely tragic yet absolutely rational method
Completed the liquidation of 650,000 ETH
This is not a deserter; this is a top hunter's 'desperate survival' in the face of irresistible force
1. Only beginners stubbornly hold on; experts know when to 'give in'
This operation by Yi Lihua is something 99% of people absolutely cannot achieve.
Imagine this: you hold 650,000 ETH, with an average cost of $3100.
When the price falls below $2000, the paper loss is several hundred million dollars.
The liquidation line is right beneath your feet at $80. What will you do?
Most people's instinct is: to hold on, bet on a rebound, and fantasize about miracles.
But Yi Lihua did not.
He chose to sell 658,000 ETH in batches and with discipline over 8 days.
Repatriated $1.35 billion in cash.
Even if it means having to give back the previous round's profit of 315 million, and additionally losing 373 million of the original capital, he hesitates not.
Why? Because living is more important than anything.
In this uncertain bear market of 2026, cash flow is oxygen.
Yi Lihua exchanged a risk that could have been zeroed out for the qualification to stay at the table.
This extreme indifference to sunk costs.
That is his core philosophy for rising from a dishwashing novice to a top capital mogul.
Second, the essence of grassroots counterattack: it is not about luck, it is about realizing cognition.
Many people like to bring up Yi Lihua's background: failing the college entrance exam, arriving in Shanghai with 1800 yuan, washing dishes and handing out flyers.
However, these labels actually mask his true strength—extreme sensitivity to cycles.
In 2015, he dared to heavily invest in blockchain when no one was paying attention, seizing the opportunity of a hundredfold return from Quantum Chain.
In 2026, he dared to gamble on ETH at an average price of $3180 when the whole network was bearish. Although he lost this time, the logic remains unchanged: seeking certainty in extreme panic.
This loss, in his long investment career, might just be a 'tuition fee' that must be paid for the cycle.
As long as the principal remains, as long as the person stays at the table, the next doubling may be tomorrow.
After all, for someone who has experienced the pain of rising from the bottom, money is just a number; the opportunity to turn around is life.
Third, thoughts after liquidating ETH: Where will the funds flow?
Yi Lihua's action of liquidating ETH actually released a signal: whales are retreating from the crowded Layer 1 public chains, looking for new alpha.
The congestion of ETH and the high Gas fees, along with the fierce competition in the DeFi space.
Let the funds start looking for new tracks that have both technical barriers and conform to future compliance trends.
And the privacy public chain is such a seriously undervalued lowland.
This brings us to the recent focus on #dusk .
Unlike projects that are still telling stories, @Dusk is taking a hardcore route of 'compliant privacy'.
It is not just a privacy blockchain, but an infrastructure specifically designed for RWA (real-world assets) and regulated financial assets.
Technical aspect: The original 'Zero Knowledge Proof (ZKP)' technology can protect privacy while meeting regulatory requirements, perfectly addressing the concerns of institutional funds entering the market.
Fundamental aspect: After years of development and refinement, the mainnet is about to launch, and it is on the eve of value discovery.
Yi Lihua's story tells us: Don't get stuck in the twilight of the old cycle; ambush before the dawn of the new cycle.
When the whales retreat from ETH, $DUSK such infrastructure that can support the future of compliant finance might just be the 'Quantum Chain' of the next bull market.