Trend Research Transfers 30 Million USDT from Aave to Binance After ETH Falls Below Key Price Line
Trend Research now holds over 636,700 ETH valued near $1.98 billion, following a $30.94 million withdrawal from Binance amid ongoing leveraged strategies.
ETH
USDT
AAVE
Summary
Trend Research withdrew 9,939 ETH worth $30.94 million from Binance on January 20, raising its total Ethereum holdings to 636,717.65 ETH with an average acquisition cost of $3,105.46. This builds on earlier moves, including transferring 30 million USDT from Aave to Binance after ETH’s price fell below $3,186. The firm continues to employ significant leverage, with $1 billion in USDT loans at 2x leverage, and had previously borrowed $20 million USDT from Aave V3 while managing unrealized losses.
Terms & Concepts
- USDT (Tether): A widely used stablecoin pegged to the US dollar, facilitating transfers without exposure to crypto price volatility.
- Aave: A decentralized lending protocol enabling users to borrow and lend cryptocurrencies without intermediaries through smart contracts (self-executing blockchain code).
- Ethereum (ETH): A leading blockchain platform enabling decentralized applications, with its native cryptocurrency used for transactions and smart contract operations.