Trend Research and Whale Investors' ETH Long Positions Turn Profitable After Unwinding

As the price of ETH rose to $3,200, the long ETH positions held by two major institutional investors—Trend Research and the "230 million USD whale"—have both turned from breaking even to being in profit. The "whale" opened a long position of 203,000 ETH (approximately $647 million) on Hyperliquid, with an average entry price of $3,147, currently holding an unrealized profit of about $14 million. Trend Research leveraged Aave to purchase 626,000 ETH (about $2 billion), with an average entry price of $3,186, currently holding an unrealized profit of about $8.77 million. Previously, the two were facing unrealized losses of approximately $74 million and $141 million, respectively.