BlockBeats News, July 16th, according to @EmberCN monitoring, as the ETH price surged above $3,100, LD Capital's secondary investment institution Trend Research began to take profit and sell part of the ETH to deleverage:
They transferred 17,289 ETH (approximately $52.84 million) to Binance 4 hours ago, then withdrew 19.11 million USDT to repay the loan taken to purchase ETH."The ETH purchased by Trend Research was leveraged 2 times: they borrowed around $270 million on Aave to buy ETH. Their ETH's average cost is around $2,250, and now with ETH's price at $3,127, their 182,000 ETH's unrealized profit has reached as high as $160 million. They started to deleverage and take profit to secure gains."
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.