Recently, there has been a major development on the blockchain worth paying attention to. A research team currently holds 645,000 ETH, which, based on current market prices, is worth over $2.1 billion, placing them in the top 3 Ethereum holdings. But the real highlight is their cost structure — with an average entry price around $3,299, their unrealized paper loss has already exceeded $240 million.

This is a typical institutional approach: targeting long-term strategies, using billions of dollars to average down costs. Since November, they have been continuously buying, with positions built from lows of $2,684 to highs of $3,903. This is not short-term speculation; they are executing a systematic long-term deployment.

But to be honest, after seeing their operations, ordinary investors need to think carefully about their own situation. Frankly, most people simply can't learn this approach — you don't have tens of billions to build positions in tranches, nor can you withstand unrealized losses of tens of millions or hundreds of millions. Our funds are limited, and each trade must be more efficient and clearer on how to exit. We can't afford to play the high-stakes gamble of "holding time for returns."

This actually reveals a key issue in current DeFi: how can limited capital operate as efficiently as institutions, rather than just gambling on market ups and downs? This is precisely the direction many emerging DeFi protocols are exploring — creating genuine yield engines that allow ordinary investors to achieve relatively stable returns without having to invest huge sums to take on hard assets.