BlockBeats news, on July 16th, according to @ EmberCN monitoring, as ETH prices surged above $3100, Trend Research, a secondary investment institution under LD Capital, began taking profits and selling some ETH to deleverage:
They transferred 17289 ETH (approximately 52.84 million US dollars) to Binance 4 hours ago, and then withdrew 19.11 million USDT to repay the loan for purchasing ETH previously.
Trend Research bought ETH with double leverage: borrowed approximately $270 million from Aave to purchase ETH. Their overall ETH cost is about $2250, and now the ETH price has reached $3127, and their 182000 ETH floating profit has reached $160 million. Starting to unload the leverage and prevent the excess part from falling into the bag, this is it
