Trend Research Missed $100M Profit on ETH, Now It’s Buying Back

Trend Research, a Chinese investment firm, recently started to buy back Ethereum after missing out on huge profits.

The addresses associated with Trend Research borrowed 88 million USDT from the top lending protocol AAVE, according to Lookonchain.

Subsequently, Trend Research deposited the funds into Binance, the largest crypto exchange and popular among whales due to its high liquidity.

So far, the company has withdrawn 9,377 ETH, worth $41.37 million, from Binance.

The movement comes two months after the Chinese firm sold 79,470 ETH for a total of roughly $250 million, at an average price of $3,145 per token. At this point, the total value of the ETH sold would’ve been over $352 million.

Ethereum is currently hovering at $4,430 with a market cap of $534 billion.

Making Massive Profits

While Trend Research’s movement shows a $100 million miss on returns, some whales have been making huge returns and betting big on the leading altcoin.

For instance, the mysterious investor called 7 Siblings made a $250 million profit by holding Ethereum between February and August.

Another case is the Radiant Capital hacker, who transformed the stolen $53 million into $103 million since September 2024. The fraudulent actor started accumulating ETH on Aug. 20 again as the price fell below $4,100.

According to a Coinspeaker report on Sept. 10, Ethereum investors accumulated over 226,000 ETH, worth roughly $980 million, over the past week. The buying spree came while the top altcoin was struggling below $4,400.

Read original story Trend Research Missed $100M Profit on ETH, Now It's Buying Back by Wahid Pessarlay at Coinspeaker.com

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