Trend Research Transfers USDT to Acquire Ethereum

On January 21, Trend Research, led by Yilihua, transferred 70 million USDT to a centralized exchange (CEX) and purchased 24,555 ETH, according to BlockBeats On-chain Detection. The Ethereum was then moved back on-chain, with the transaction valued at $75.54 million, aiming to lower the average purchase price. Trend Research currently holds 651,300 ETH, valued at $1.92 billion, with an average cost of approximately $3,180 per ETH. The firm is experiencing an unrealized loss of about $163 million.