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<h2>Trend Research just dumped over 400,000 ETH in seven days. The Ethereum-focused fund is scrambling to avoid liquidation as prices crashed and leveraged bets went sideways.</h2>
The firm is linked to Liquid Capital founder Jack Yi. It&#x27;s based in Hong Kong. A week ago, it held 651,170 ETH. Now? Roughly 247,080, according to <a href="https://intel.arkm.com/explorer/entity/trend-research" target="_blank" rel="noopener">Arkham</a>.
That&#x27;s a massive retreat. This is the same firm that made its name aggressively buying Ether after October&#x27;s crypto crash.
Blockchain data from Arkham shows approximately 411,075 ETH moved to Binance this month. That screams selling. Ethereum dropped nearly 30% to lows near $1,748 before bouncing to about $1,967.
Why the fire sale? Liquidation risk.
Analysis from Lookonchain reveals Trend Research faces multiple liquidation bands on Aave. They&#x27;re between $1,698 and $1,562. Prices fall to those levels? Its collateralized positions get forcibly unwound.
The firm&#x27;s been using leveraged strategies on the <a href="https://www.thecoinzone.com/defi/defi-yield-protocol/" data-wpil-monitor-id="417">DeFi lending protocol</a>. It funded massive ETH purchases with stablecoin loans. That works great in bull markets. Not so much now.
Jack Yi admitted the mistake publicly on X. He &quot;called the market bottom too early but remain <a href="https://www.thecoinzone.com/news/vitalik-buterin-profits-betting-crypto-sentiment/" data-wpil-monitor-id="1848">long-term bullish on crypto</a>.&quot; He says the firm&#x27;s managing risk. Waiting for broader market recovery. Translation: they&#x27;re trying to survive without getting completely wiped out.
Trend Research became a major player after October 2025&#x27;s $19 billion crypto liquidation event. It started accumulating ETH at scale then. At its peak? The firm would&#x27;ve ranked as the third-largest Ether holder. That&#x27;s an outsized bet on Ethereum&#x27;s recovery.
The deleveraging shows how vulnerable leveraged DeFi strategies are during sharp downturns. Trend Research is fighting to avoid forced liquidations. Meanwhile, other corporate holders like Bitmine are <a href="https://www.thecoinzone.com/news/bitmine-acquires-ethereum-institutional-confidence/" data-wpil-monitor-id="1756">sitting on billions in unrealized ETH</a> profits. Divergent fortunes among institutional players navigating these volatile markets.
The firm&#x27;s struggle isn&#x27;t unique. Leveraged positions across DeFi protocols face mounting pressure from persistent price weakness. Can Trend Research hold its remaining position without more selling? That depends on Ethereum&#x27;s price trajectory in coming weeks. And whether it can manage collateral ratios on Aave.

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Trend Research Offloads 400,000+ ETH as Liquidation Threat Looms

Trend Research sold 400,000+ ETH in 7 days amid liquidation fears. The leveraged fund faces Aave liquidation bands between $1,698-$1,562 as ETH crashed 30%.