Overview
- On-chain trackers reported the final transfer of 0.148 ETH to Binance, completing a total move of 651,757 ETH at an average price near $2,055 worth about $1.34 billion.
- Lookonchain estimates the realized loss at roughly $747 million, and earlier reported profits of about $315 million were effectively erased.
- Trend Research built the exposure through recursive borrowing on Aave, using stablecoin loans against ETH collateral to repeatedly buy more ETH.
- Despite the concentrated selling, Ethereum’s price stabilized above $2,000 as the market absorbed the flow.
- Positioning across the market remains split, with a new 20x short on 30,000 ETH opened on Hyperliquid and BitMine adding about $81 million in ETH last week.