Analysis: Trend Research likely needs to continue selling approximately 40,000 ETH to deleverage.

According to on-chain analyst Ember, Trend Research has transferred 48,900 $ETH ($150.0 million) to Binance today to reduce its holdings, at an average price of approximately $3,083. They have already repaid approximately 67.00 million $USDT in loans on $Aave, with a remaining loan balance of $207.0 million. Currently, they still hold approximately 133,000 $ETH ($423.0 million). If they want to repay all loans and remove all leverage, as Yilihua said, to completely hold spot goods, they probably need to continue selling approximately 40,000 $ETH ($120.0 million)? In other words, will they ultimately have approximately 94,000 $ETH in spot (without leverage) remaining? [Odaily Planet Daily]