Trend Research sells $426M in ETH at a loss this month

Trend Research, which has been accumulating Ethereum (ETH) since last November, has sold 188,500 ETH ($426 million) at a loss this month, EmberCN reported. The average selling price was $2,263. Following the sale, the firm repaid 385 million USDT to lower its leverage. The liquidation price for many of its ETH-backed loan positions is now concentrated around $1,640. Trend Research still holds 463,000 ETH, worth $998 million, with an average purchase price of $3,180. To date, the firm has realized losses of $173 million and has an unrealized loss of $474 million.