Trend Research Slashes Ether Holdings After Market Crash to Repay Loans
Crypto treasury agency Trend Research has sharply lowered its Ether place following the current market downturn, transferring massive quantities of ETH to exchanges as it really works to service excellent debt.
Key Takeaways:
- Trend Research offered over 400,000 ETH and moved massive holdings to exchanges to handle debt after the worth drop.
- Ether’s practically 30% weekly decline pushed leveraged positions shut to liquidation thresholds.
- The downturn can also be hitting different company ETH treasuries, highlighting dangers of concentrated crypto holdings.
Blockchain knowledge exhibits the agency held roughly 651,170 Ether on Sunday within the type of Aave-wrapped ETH. By Friday, the stability had fallen to about 247,080 ETH, a drop of greater than 404,000 tokens in lower than per week.
Onchain analytics platform Arkham reported that 411,075 ETH has been transferred to Binance for the reason that begin of the month.
Ether Drops Nearly 30% in a Week Before Partial Rebound
The actions coincided with a steep decline in Ether’s worth, which slid practically 30% over the previous week to a low close to $1,748 earlier than recovering to round $1,967.
Trend Research constructed its place utilizing a leveraged technique. The firm, linked to Liquid Capital founder Jack Yi, bought Ether and posted it as collateral on the lending protocol Aave to borrow stablecoins, then used the borrowed funds to purchase further ETH.
The falling market has positioned the place below stress. According to Lookonchain, the agency faces a number of potential liquidation ranges between $1,698 and $1,562, that means additional worth declines may set off computerized collateral gross sales on the lending platform.
Yi acknowledged in a post on X that his earlier name in the marketplace backside got here too quickly however stated he stays optimistic and can proceed managing threat whereas ready for a restoration.
Trend Research first drew consideration after the $19 billion crypto liquidation cascade in October 2025, when it started aggressively accumulating Ether.
At one level in December, the agency would have ranked among the many largest holders of ETH globally, though it doesn’t seem on most public company treasury trackers as a result of it’s privately held.
BitMine’s $7B Paper Loss Tests Corporate Ethereum Treasury Strategy
BitMine Immersion Technologies, led by Fundstrat’s Tom Lee, can also be below stress after Ether’s sharp decline pushed the corporate deep into unrealized losses.
With roughly 4.28 million ETH on its stability sheet, the agency is sitting on more than $7 billion in paper losses after the token fell close to $2,100.
The firm had gathered its holdings at a lot larger costs, making it one of many largest single-asset company bets in crypto.
The agency shifted from Bitcoin mining to an “Ethereum-first” treasury mannequin in 2025, shopping for ETH at an estimated $3,800–$3,900 common.
The market downturn has dragged down each its portfolio and inventory worth, drawing comparisons to Michael Saylor’s Bitcoin-heavy Strategy, which can also be dealing with sizable unrealized losses.
Analysts say each firms spotlight the chance of concentrated crypto treasury methods tied to unstable belongings.
Despite the drawdown, Lee stays assured. He argues Ethereum’s fundamentals are strengthening, pointing to report transaction exercise and rising lively addresses.
The firm now holds about 3.55% of Ethereum’s supply and is focusing on 5% whereas increasing staking operations.
Nearly $6.7 billion value of ETH is staked, and BitMine plans to launch its Made in America Validator Network in 2026.
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