In less than a year, Yi Lihua's institution bagged 5.41 million UNI and 228,700 COMP, ultimately taking a hit of 40.29 million dollars—this is the heart-wrenching reality of the secondary market.
On-chain data shows that Yi Lihua's secondary institution recently moved its last batch of 2.705 million UNI (around 8.71 million dollars) and 114,000 COMP (around 2.13 million dollars) to Binance, basically confirming a full liquidation.
This trade was made last July during a bounce-back, with UNI bought at about 9.5 dollars and COMP at around 49.3 dollars; by May this year, the average sell price had dropped to about 3.3 dollars for UNI and 19.4 dollars for COMP.
What’s really striking isn’t just how much was lost, but that even professional funds can’t escape the human cycle of 'getting too excited during a bounce and giving up in a downtrend.' As an old trader, I’ve seen this too often; many people think institutions can’t make mistakes, but once their positions get too big and their timing gets off, they can still get wrecked by the market.
This serves as a reminder: a bounce doesn’t equal a reversal; chasing after hot, established DeFi projects can still lead to getting schooled by the market cycle.
If you were holding this bag, would you double down during the bounce, or would you cut your losses early?
On-chain data shows that Yi Lihua's secondary institution recently moved its last batch of 2.705 million UNI (around 8.71 million dollars) and 114,000 COMP (around 2.13 million dollars) to Binance, basically confirming a full liquidation.
This trade was made last July during a bounce-back, with UNI bought at about 9.5 dollars and COMP at around 49.3 dollars; by May this year, the average sell price had dropped to about 3.3 dollars for UNI and 19.4 dollars for COMP.
What’s really striking isn’t just how much was lost, but that even professional funds can’t escape the human cycle of 'getting too excited during a bounce and giving up in a downtrend.' As an old trader, I’ve seen this too often; many people think institutions can’t make mistakes, but once their positions get too big and their timing gets off, they can still get wrecked by the market.
This serves as a reminder: a bounce doesn’t equal a reversal; chasing after hot, established DeFi projects can still lead to getting schooled by the market cycle.
If you were holding this bag, would you double down during the bounce, or would you cut your losses early?