Trend Research transferred 216,000 ETH to Binance and still holds 247,000 ETH

According to on-chain analyst Yu Jin's monitoring, Trend Research has transferred a total of 216,000 ETH (410 million USD) into Binance. They have now reduced their position by two-thirds on the 651,500 ETH they bought at a price of 3,180 USD: since the 1st, they have sold a total of 404,600 ETH at an average price of 2,071 USD.

Currently, there are still 247,000 ETH (476 million USD) and 321 million USDT in loans on-chain. To fully unwind the leverage, they will likely need to sell about half of this portion, and after unwinding the leverage, they will still have around 100,000 ETH in spot holdings left.