Large ETH Purchases Reported During Market Downturn

On-chain analytics firm Lookonchain reported that Trend Research borrowed 70 million USDT from lending protocol Aave to acquire 24,555 ETH worth approximately $75.5 million, bringing its total holdings to about 651,310 ETH valued at $1.92 billion. In a separate transaction, an over-the-counter buyer purchased 20,000 ETH for around $58.8 million through trading firms FalconX and Wintermute. The transactions occurred amid a broader decline in cryptocurrency prices.