Analysis: The cost of ETH for Trend Research is approximately $2,240, with a total holding of 177,000 ETH

On June 21, according to EmberCN's monitoring, it is estimated that Trend Research, a subsidiary of LD Capital, owns about 177,000 Ethereum (approximately $453 million), and part of it was purchased after borrowing USDT by mortgaging Ethereum through Aave. A total of 230 million USDT was borrowed, and the leverage ratio is approximately double this ratio.

The total cost of Ethereum is expected to be around $2,240, and there are currently about $55 million in unrealized gains.