LD Capital cuts ETH position, says betting on early rally was a mistake

LD Capital has acknowledged that its recent bet on an early Ethereum (ETH) rally was a mistake, leading it to give back some of its profits. Jack Yi, the founder of LD Capital, stated on X that after previously selling ETH at a high point, the firm re-entered the market around the $3,000 level, anticipating a renewed uptrend. He explained that they believed ETH was undervalued at the time, but this turned out to be a misjudgment. Yi said the company is now managing risk by closing some positions and waiting for the market to turn bullish again. Trend Research, an affiliate of LD Capital, held approximately 650,000 ETH until the end of last month. Following a price decline over the weekend, the firm sold around 40,000 ETH and repaid loans on crypto lending protocols like Aave. Its current holdings are reported to be approximately 608,251 ETH.