Asia's Biggest Ethereum (ETH) Long Position Has Been Liquidated: However, Blockchain Data Suggests Otherwise.

Trading firm Trend Research, headed by Liquid Capital's founder Jack Yi, has completely liquidated its Ethereum holdings, which were once Asia's most significant ETH long positions. The company once held about $2.1 billion in leveraged Ethereum long positions, which were built by borrowing stablecoins against ETH collateral. Despite the firm's bullish outlook on the crypto market, it closed its final ETH position, resulting in a total loss of about $869 million. In contrast, on-chain data shows that Ethereum "accumulating addresses" currently hold 27 million ETH, approximately 23% of Ether's circulating supply. This suggests that these addresses have been adding to their positions despite the recent decline in price and the forced unwinding of leveraged trades.