Trend Research, led by Liquid Capital founder Jack Yi, has closed its Ethereum positions, marking the end of Asia's largest ETH long, according to Arkham. The firm had held $2.1 billion in leveraged Ethereum long positions, which were exited with a realized loss of approximately $869 million. This move followed a decline in Ether's price towards $1,750, causing stress across leveraged positions. Despite the exit, on-chain data from CryptoQuant indicates an accumulation trend among Ethereum holders. "Accumulating addresses," which hold at least 100 ETH and have no outflows, now possess 27 million ETH, about 23% of the circulating supply. This suggests continued confidence in Ethereum's long-term potential, even as the market experiences volatility.