Trend Research and the "230 million USD whale"—two major institutional investors—have both successfully closed their ETH long positions with floating profits.

According to ChainCatcher, citing Ember, as ETH rose to $3,200, both Trend Research and the "230 million USD whale"—two major institutional investors—have now closed their ETH long positions at a profit. The "whale" opened a long position of 203,000 ETH (approximately $647 million) on Hyperliquid at an average cost of $3,147, currently with an unrealized profit of about $14 million. Trend Research used leverage on Aave to purchase 626,000 ETH (about $2 billion) at an average cost of $3,186, currently with an unrealized profit of about $8.77 million. Previously, both had unrealized losses of up to $74 million and $141 million, respectively.