Founder of the Company That Was Much Talked About Due to His Losses Admitted He Was Wrong About Ethereum (ETH)

A notable development has occurred in the cryptocurrency market. According to on-chain data, Trend Research deposited a total of 73,588 Ethereum ($ETH) into the Binance cryptocurrency exchange in the last 24 hours.

The total value of these transfers is estimated at approximately $168.6 million, with the last transaction alone reportedly involving the transfer of 20,000 $ETH ($45.52 million) to the exchange.

According to the data, these large transfers made by Trend Research in the last 24 hours were for the purpose of sales and loan repayments. The average investment price for the $ETH transfers made by the company to Binance was calculated as $2,299.96. Considering the current price levels, Trend Research’s estimated loss from these transactions is approximately $59.19 million.

However, the company’s on-chain holdings of 598,342.35 $ETH have also experienced a significant decline in value. Based on current market conditions, these assets are estimated to represent an unrealized loss of approximately $495 million.

On the other hand, Jack Yi, founder of Liquid Capital, also commented on the issue. Yi stated that he is currently one of those feeling the most pressure in the market, admitting that it was a mistake to be prematurely optimistic about Ethereum after closing positions at peak levels. He said that they considered Ethereum to be “undervalued” when it remained around $3,000 while Bitcoin was trading at $100,000, adding that previous cycle profits have been given back and that position size determines the investment approach.

Jack Yi stated that they expect the market to regain an upward trend by prioritizing risk control, and added that investing and trading are the most challenging areas of the sector. He also noted that investors within the sector tend to be optimistic at times.

*This is not investment advice.