Trend Research purchased another 46,000 ETH, bringing its total holdings to over 580,000 ETH, with unrealized losses exceeding $140 million.

PANews reported on December 24th that, according to Ember, Trend Research, a secondary investment firm under Jack Yi, purchased another 46,379 ETH today using leverage, worth approximately $137 million. Since early November when ETH was around $3,400, the firm has accumulated approximately 580,000 ETH, with a total investment of approximately $1.72 billion. The estimated average holding price is $3,208, and the current unrealized loss is approximately $141 million. It borrowed a total of $887 million USDT from Aave, a leverage ratio close to 2x. This address is suspected to be the same whale that previously "shorted ETH for a profit of $24.48 million and then went long."