Bitmine purchased 30,000 ETH (valued at $61.89 million) through FalconX, while a wallet linked to Trend Research executed a leveraged position accumulating 27,000 ETH ($55.72 million) via Aave borrowing, signaling institutional conviction in Ethereum below $2,000.
Jackyi from Trend Research publicly stated three days prior that any ETH price below $2,000 represents a compelling buying opportunity, followed by on-chain execution. The research firm deposited $100 million in USDC to Aave, borrowed the 27,000-token position, and transferred the holdings to Binance—a pattern consistent with either strategic positioning or preparation for additional market moves.
The concurrent accumulation by both entities reflects growing institutional appetite for Ethereum at current valuation levels, with combined purchases exceeding $117 million. These transactions underscore analyst conviction that current spot prices offer asymmetric risk-reward dynamics, though the Trend Research position's leverage component introduces refinancing risk should market conditions deteriorate.