Trend Research Transfers USDT to Binance and Purchases ETH

Blockchain sleuth EmberCN posted on X that Trend Research recently transferred 70 million USDT to Binance, subsequently purchasing 24,555 ETH valued at $75.54 million and moving it back on-chain. This strategic move aims to lower the average cost line by increasing holdings during market dips. Currently, Trend Research holds a total of 651,300 ETH, valued at $1.92 billion, with an average cost of approximately $3,180 per ETH. The firm is currently facing an unrealized loss of about $163 million.