According to data from Ember, Trend Research — a secondary investment company under Jack Yi — today continued to purchase an additional 46,379 ETH using leverage, worth approximately 137 million USD. Since the beginning of November, when the price of ETH was around 3,400 USD, Trend Research has accumulated a total of approximately 580,000 ETH, with an estimated total investment of 1.72 billion USD.
The average cost basis of the amount of ETH held is approximately 3,208 USD, while the unrealized loss is nearly 141 million USD. To implement this strategy, Trend Research borrowed a total of 887 million USDT from the Aave protocol, equivalent to a leverage ratio of nearly 2x.
Notably, this wallet address is believed to belong to the same “whale” that previously attracted attention when shorting ETH and taking profits of about 24.48 million USD, before reversing to a long position. The move to increase leveraged buying indicates strong confidence in the medium and long-term prospects of ETH, despite the risks of price volatility still being present.
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