At this point, the latest news is that the Chinese firm Trend Research bought additional ETH despite an unrealized loss of $141 million.
According to EmberCN, an address believed to belong to Trend Research, a subsidiary of LD Capital, purchased an additional 46,379 ETH worth $137 million through a leveraged loan.
Trend Research used leveraged borrowing for its recent Ethereum purchase, borrowing a total of 887 million USDT from Aave. This represents approximately double the leverage.
According to the data, the firm began accumulating ETH last November when the price was $3,400. Since then, it has purchased a total of 580,000 ETH, worth $1.72 billion.
The company’s average cost is approximately $3,208, while it also has unrealized losses of approximately $141 million on paper.
Trend Research has become one of Ethereum’s largest investors with its recent ETH purchase.
The purchase of 46,379 ETH propelled the company to the top ranks among ETH holders, following SharpLink Gaming and BitMine Immersion Technologies.
However, because Trend Research is not a publicly traded company, it doesn’t feature in most Ethereum treasury rankings. Nevertheless, it’s attracting attention from the industry with its rapid ETH accumulation.
While Trend Research quietly continues its ETH purchases, its founder Jack Yi has announced plans to invest another billion dollars in Ethereum.
Jack Yi announced in a post on his X account that Trend Research has prepared an additional $1 billion to continue purchasing ETH.
Yi urged investors not to open short positions, adding that he sees Ethereum as a historic opportunity.
*This is not investment advice.
Continue Reading: Chinese Company Announces $1 Billion Ethereum (ETH) Investment While the Market is Falling! “A Historic Opportunity!”
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Author: NixCoin
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