Huobi’s Li Lin Trend Research Links as $373M ETH Loss Dismisses Market Shaking
TLDR:
Lee Lin from Avenir Group confirmed no BTC or ETH sales during the market crash
Trend Research sold 658,168 ETH worth $1.35B at an average price of $2,058 with a price of $3,104.
Total losses totaled $688 million, erasing a $373 million net deficit from $315 million previously.
After completing eight days of liquid exchanges, Ethereum was held above $2,000
The founder of Huobi and Avenir Group has publicly denied the claims linking him to A Major Ethereum liquidation event.
Lee Lin said he maintained his Bitcoin and ETH position during the recent downturn. His denial came as speculation swirled that Hong Kong funds had caused the market crash.
Major institutional players distance themselves from the liquidity event
Lee Lin oversees Avenir Group, Asia's largest institutional Bitcoin ETF holder.
The executive denied any investment relationship with Trend Research or Garrett. His statement is aimed at countering narratives that his company played a role in the sale.
Market participants pointed the finger at Asian institutions during the fall in prices. Bitcoin has fallen below key support levels as Ethereum struggles to hold above $2,000. Rumors intensified as leaks were posted on centralized and decentralized platforms.
According to Wu Blockchain, Li Lin's position has remained unchanged throughout the changes.
Avenir group Bitcoin ETF Holdings remained intact despite market pressure. The explanation sought to separate the operations from the apparent liquidity crisis.
The analysis on the chain shows a terrible transaction loss
Data from ai_9684xtpa revealed that Trend Research has destroyed the entire Ethereum space. The firm moved 658,168 ETH to the exchange in an eight-day period. The total cost reached $1.354 billion in performance values.
Trend Research bought Ethereum at an average of $3,104 per token. The sale occurred at approximately $2,058 per coin. This price difference resulted in a loss of more than $688 million to the business.
The firm made a profit of approximately $315 million from previous positions. Those gains completely evaporated in the recent recession. According to Blockchain's report, the net loss now stands at $373 million.
The last transfer was only 0.148 ETH Binance. This small size marks a complete departure from what was once a large area. The sale started on February 6 and ended within days.
Shortly after the massive sell-off, the price of Ethereum stopped falling. Although pressure continues, the signal has stabilized above the $2,000 threshold. Market observers note the time between liquidation and the formation of a price floor.
The incident highlighted the risks associated with the DeFi strategies used. Trend Research is said to have developed a positioning strategy worth over $2 billion. During the same window, market-wide liquidity exceeded one billion dollars.
