Trend Research Deposits 17,289 ETH into CEX, Valued at Nearly $53 Million

According to ChainCatcher, as monitored by @EmberCN, with ETH prices surging past $3,100, Trend Research, a secondary investment arm under LD Capital, has begun to take profits by selling part of its ETH holdings and reducing leverage:

Four hours ago, they transferred 17,289 ETH (worth approximately $52.84 million) to an exchange, then withdrew 19.11 million USDT to repay the loan previously used to purchase ETH.

“Trend Research bought ETH with 2x leverage, borrowing about $270 million from Aave to acquire ETH. Their average cost for ETH was around $2,250, and now with ETH at $3,127, their unrealized profit on 182,000 ETH has reached as much as $160 million. They have started to reduce leverage and lock in some profits.”