Odaily Planet Daily reported that on-chain analyst Yu Jin stated that Trend Research has today transferred 48,900 ETH ($150 million) to Binance for reduction, with an average price of about $3,083. They have repaid about $67 million in USDT loans on Aave, with remaining loans totaling $207 million. Currently, they hold approximately 133,000 ETH ($423 million). If they want to fully repay their loans and eliminate all leverage, achieving the complete holding of spot assets as stated by Yi Lihua, they would likely need to continue selling about 40,000 ETH ($120 million). In other words, they would ultimately have about 94,000 ETH in spot (no leverage) left.