PANews reported on July 16 that according to Yuji, as ETH price strongly broke through $3,100, @Jackyi_ld's secondary investment institution @Trend_Research_ has started to take profits and sell part of ETH to reduce leverage. Four hours ago, the institution transferred 17,289 ETH (approximately $52.84 million) to Binance and withdrew 19.11 million USDT to repay the previous ETH loan. It is understood that Trend Research previously borrowed about $270 million with 2x leverage on Aave to purchase ETH, with an average cost of around $2,250. Currently, with ETH price rising to $3,127, the 182,000 ETH held has realized approximately $160 million in floating profits, and they have started to take partial profits for safety.
Trend Research starts to take profits on ETH, transfers part of assets to Binance to repay loans
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