Trend Research borrowed to buy 46,000 ETH, and currently holds a total of 580,000 ETH with a paper loss of $141 million.

According to Odaily Planet Daily, Trend Research, a secondary investment firm under Jackyi_ld, purchased 46,379 ETH today using leverage, worth $137 million.

The institution began buying ETH in early November when it was around $3,400, and currently holds a total of 580,000 ETH, worth $1.72 billion, with an average cost of approximately $3,208. It is currently experiencing a paper loss of $141 million. Trend Research used leverage to purchase these assets, borrowing a total of 887 million USDT from Aave, a leverage ratio of approximately 2x. The institution previously profited $24.48 million by shorting ETH.