Amidst the relentless ebb and flow of digital gold, a once-proud Hong Kong-based oracle of optimism-Trend Research-has surrendered its Ethereum hoard to the merciless tides of the market. What began as a grandiose ballet of borrowed stablecoins, leveraged bets, and $2 billion of bullish bravado now reads like a tragic opera. The curtain fell as Ethereum’s price plummeted, its descent marked by the icy winds of February 2026.
The firm, led by Jack Yi, had long danced with Aave’s vaults, collateralizing Ethereum like a gambler betting on the next flush of luck. But when the market’s breath turned frigid, the dance ended in a heap of 772,865 ETH deposited to Binance-a sum that could buy a small war, a yacht, or perhaps a therapist for the remaining 21,301 ETH.
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Lookonchain’s poetic ledger reveals the carnage: 792,532 ETH withdrawn at $3,267, now returned at $2,326-a fiscal waltz that cost $747 million. A sum, one might say, that could have bought a modest island or, more tragically, a sense of caution.
The crypto realm, since October’s bloodbath, has been a stage for mass exodus. Leveraged bets unwound like frayed rope, and volatility reigned supreme. Investors, now dressed in bearish coats, shuffled out of risk-on assets, leaving major cryptocurrencies to stumble weekly in their wake.
As the calendar flips, Ethereum teeters at $2,012, up 5.37% in 24 hours but down 24% weekly-a fleeting rebound that whispers of deeper despair. The RSI, a beleaguered soul, clawed its way from the depths of oversold hell, only to face resistance at $2,117. Should it falter, the path to $1,742 beckons, and beyond lies the abyss of $1,537. A break above $2,111, however, might yet summon the ghosts of buyers past.
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2026-02-07 15:42