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According to on-chain data monitoring, a major investment firm Trend Research borrowed 10 million USDT from the Aave protocol about 5 minutes ago and subsequently deposited the funds into a leading exchange. Based on the operation sequence, this fund is very likely used to add to ETH positions.
It is understood that Trend Research currently holds a total of 626,778.65 ETH, with a total market value of approximately $1.94 billion at the current price. Notably, the average holding cost for this institution is $3,105.5 per ETH, with an unrealized profit of about $53.52 million. From this perspective, the new USDT borrowing may indicate that the institution remains optimistic about Ethereum's future performance at the current price level.