Development Analysis, the buying and selling agency led by Liquid Capital founder Jack Yi, has totally exited its Ethereum positions, closing out what was as soon as Asia’s largest ETH lengthy, in keeping with on-chain monitoring platform Arkham.
At its peak, Development Analysis held roughly $2.1 billion in leveraged Ethereum lengthy positions, collected by borrowing stablecoins in opposition to ETH collateral.
Bullish Tweets, Brutal Exit
Arkham knowledge revealed that the agency closed its last ETH place on Sunday. The exit resulted in a complete realized lack of roughly $869 million. Curiously, the entire exit adopted a number of days of place reductions as Ether’s worth declined towards the $1,750 stage, which triggered stress throughout leveraged positions out there.
Notably, Yi had publicly reiterated his bullish outlook simply days earlier than the agency totally exited its ETH publicity. In a publish on X revealed 4 days previous to the ultimate exit, Yi mentioned Development Analysis remained “bullish on the subsequent main bull market,” and even predicted that ETH would transcend $10,000 and Bitcoin above $200,000. He described the agency as having made “partial changes to handle threat.”
Yi additionally addressed broader market situations within the publish, and spoke concerning the lack of liquidity and alleged platform-driven manipulation. Regardless of these considerations, he maintained that the long-term trajectory of the crypto trade remained intact. He additional asserted that present costs represented a horny entry level for spot positions when considered on a multi-year horizon, whereas acknowledging that excessive volatility has traditionally pressured many bullish merchants out of positions earlier than subsequent rebounds.
Accumulation Development Throughout Market Stress
Amidst the market turmoil, Ethereum “accumulating addresses” – outlined as wallets with no historical past of outflows, balances of a minimum of 100 ETH, and no affiliation with exchanges, miners, or sensible contracts – presently maintain 27 million ETH, in keeping with CryptoQuant’s evaluation. This determine represents roughly 23% of Ether’s circulating provide.
CryptoQuant additionally discovered that the altcoin has traded under the realized worth of those accumulating addresses solely twice in its historical past. The primary time was when the market hit a low in 2025, whereas the second has been unfolding since January 2026. Because of this accumulating addresses have continued so as to add to positions regardless of latest worth declines and the pressured unwinding of leveraged trades
The publish Largest Ethereum (ETH) Lengthy in Asia Is Gone: However On-Chain Knowledge Tells a Totally different Story appeared first on CryptoPotato.