PANews reported on July 16 that according to the analysis of on-chain analyst Yu Jin, Trend Research has transferred 48,900 ETH (US$150 million) to Binance today for reduction, with an average price of about US$3,083. They have repaid about 67 million USDT loans on Aave, and the remaining loans are still US$207 million. Now they still hold about 133,000 ETH (US$423 million). If they want to pay off all the loans and remove all the leverage, and achieve what Mr. Yi said to hold all the spot, they will probably need to continue to sell about 40,000 ETH (US$120 million). In other words, they will eventually have about 94,000 ETH spot left (without leverage).