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

BlockBeats News, July 16th, according to @EmberCN monitoring, as the ETH price surged above $3,100, LD Capital's secondary investment institution Trend Research began to take profit and sell part of the ETH to deleverage:

They transferred 17,289 ETH (approximately $52.84 million) to Binance 4 hours ago, then withdrew 19.11 million USDT to repay the loan taken to purchase ETH.

"The ETH purchased by Trend Research was leveraged 2 times: they borrowed around $270 million on Aave to buy ETH. Their ETH's average cost is around $2,250, and now with ETH's price at $3,127, their 182,000 ETH's unrealized profit has reached as high as $160 million. They started to deleverage and take profit to secure gains."