Trend Research transferred 17,289 ETH to Binance, started to take profits and reduce leverage

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According to @EmberCN, as ETH breaks through $3,100, Jack Yi's secondary investment institution Trend Research transferred 17,289 ETH (approximately $52.84 million) to Binance 4 hours ago and withdrew 19.11 million USDT to repay the loan used for purchasing coins, starting partial profit-taking to reduce leverage. Previously, the institution had borrowed approximately $270 million on Aave with about 2x leverage to purchase ETH, with an average cost of around $2,250. The 182,000 ETH currently held has realized approximately $160 million in floating profits.

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