Trend Research recently reported that the company recently purchased over 46,000 Ethereum (ETH), bringing its total holdings to approximately 580,000. Comparing this with the ranking of Ethereum enterprise wallets compiled by CoinGecko, this unlisted company has surpassed some listed companies to become one of the "Ethereum whales."
Trend Research: Ethereum Whales Rise Among Corporate Investors
The purchase took place on Wednesday, local time, and the person responsible for bringing the company to the spotlight recently is LD Capital founder Jack Yi. He has been purchasing Ethereum on a large scale since October and recently announced that he is preparing to purchase another $1 billion (approximately 1.449 trillion won) worth of Ethereum, urging people to "stop shorting."
Trend Research is an unlisted investment firm and is not included in official coin holding rankings, but the industry is paying attention to their rapid Ethereum accumulation. Currently, according to CoinGecko, the only publicly listed companies with larger Ethereum holdings are SharpLink Gaming (approximately 859,000 ETH) and BitMine Immersion Technologies (approximately 4,066,000 ETH).
Pompliano: "Bitcoin's Crash Next Year Is Low"
Meanwhile, cryptocurrency investor Anthony Pompliano predicts that a market crash early next year is unlikely as Bitcoin (BTC) is expected to have a quiet year-end session without an "aggressive rally."
In his remarks on Tuesday, he analyzed that "there was no bubble-like peak surge as expected in the third or fourth quarter of this year, nor was there the typical 70-80% drop," adding that "given the current level of volatility, a sudden plunge in Bitcoin is unlikely." He continued, "Investors may be disappointed that Bitcoin didn't reach $250,000 this year, but they should remember that it actually rose 100% over two years, and approximately 300% over three years."
IMF pressures El Salvador to sell its "Tchibo wallet."
The International Monetary Fund (IMF) officially announced that it is in ongoing negotiations with the El Salvadoran government regarding the sale of the state-run Bitcoin wallet, Chivo. According to the announcement, the government is continuing discussions with the IMF on adjusting Bitcoin-related policies, including the possibility of transferring the Chivo wallet to a third party.
The IMF had already included conditions for providing $120 million (approximately KRW 173.9 billion) as part of a $1.4 billion loan agreement with El Salvador in May of this year, including the government's "stopping additional Bitcoin purchases," "reducing its use within the public sector," and "considering the sale of the Tsibo wallet."
However, it's unclear whether the promise will be fulfilled. The IMF stated in July that El Salvador had not purchased any additional Bitcoin since December of last year, but the El Salvador Bitcoin Office announced last month that it had purchased 1,090 BTC, worth approximately $100 million (approximately 144.9 billion won).
El Salvador became the first country to adopt Bitcoin as its legal tender in 2021. President Nayib Bukele's initiative to diversify national assets into Bitcoin garnered global attention. However, negotiations with the IMF to improve fiscal soundness continue to face a critical gap in the country's approach to cryptocurrency use.
Article Summary by TokenPost.ai
๐ Market Interpretation
The Trend Research case study demonstrates the trend of unlisted institutions incorporating large-cap cryptocurrencies as long-term strategic assets. This is interpreted as an investment decision considering Ethereum's future growth potential and network influence, and could serve as a positive signal for the overall market.
๐ก Strategy Points
Ethereum's continued accumulation may signal a shift toward a market structure centered on long-term investors. In particular, in the Proof-of-Stake (PoS) structure, large holdings lead to increased opportunities for validator selection and rewards, which is fueling growing interest from institutional investors.
๐ Glossary
- Tsibo Wallet: The official Bitcoin e-wallet app operated by the government of El Salvador.
- Proof of Stake (PoS): A blockchain technology method in which block verification authority is granted based on the ratio of coins held and deposited.
- Blow-off top: A structure in which asset prices rise sharply and then fall sharply, indicating an extremely overheated market.
๐ก Want to know more? AI-prepared questions for you:
A. Trend Research, an investment firm rather than a publicly traded company, recently purchased over 46,000 additional Ethereum tokens, bringing its holdings to approximately 580,000. This means it has surpassed several publicly traded companies with publicly disclosed holdings and has become one of the largest Ethereum holdings globally.
A. Since Ethereum operates on a proof-of-stake system, holding and staking a large amount of Ethereum increases your participation in block validation and network operations. The more coins you stake, the greater your decision-making power and profit opportunities on the network.
A. While extreme price spikes are often followed by significant declines, Bitcoin has been quietly moving through the rest of the year without any such movements, suggesting that early next year may not see the same significant declines seen in the past.
A. The IMF demanded that El Salvador cease using Bitcoin in the public sector and sell its Tsibo wallet as a condition of its $1.4 billion loan, and negotiations are currently underway to transfer the wallet's operations.
A. The government officially announced that it had halted additional purchases, but in reality, it has been purchasing BTC even recently, raising controversy over whether it is fulfilling its promise to the IMF.
TP AI Precautions
This article was summarized using a TokenPost.ai-based language model. Key points in the text may be omitted or inaccurate.
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