Strategic victory for Trend Research’s $2 billion stake as Ethereum prices bounce back.
Trend Research, the LD Capital subsidiary, built a $2 billion Ethereum stake of about 626,000 ETH using a loan from Aave at an average price of $3,186. The price slump generated an unrealized loss of roughly $141 million. When ETH recovered to around $3,200, the position flipped to an $8.77 million paper profit. The firm employed Aave’s decentralized lending to gain leverage, reflecting a broader institutional move toward capital‑efficient strategies. Robust risk frameworks, ample collateral, and possible hedges let it hold the position through deep drawdowns. This approach contrasts sharply with typical retail behavior, emphasizing longer horizons and higher risk tolerance. Ethereum’s rise to $3,200 stems from network upgrades, renewed DeFi activity, growing institutional use, and shifting macro risk appetite. The rally validates the thesis that ETH functions as core Web3 infrastructure rather than mere speculation. Consequently, many institutional investors see similar upside potential. On‑chain analysis by EmberCN exposed the trade, illustrating the intrinsic transparency of blockchain assets. Such visibility enables market‑wide monitoring but also subjects large players to greater scrutiny. As institutions like Trend Research expand their crypto exposure, they increasingly shape market dynamics.