Leading investment institutions are making big moves again. LD Capital founder Yi Lihua recently announced continued accumulation of Ethereum, planning to allocate $1 billion for ongoing position building. This statement was subsequently validated by on-chain data.

Looking at the specific operational details reveals how serious this institution is. Yesterday, a single purchase added 46,319 ETH, equivalent to approximately $137 million at the market price at the time. Such a large-scale buy-in is rare in the market.

What further demonstrates their stance is the total holdings—currently accumulated to 580,000 ETH, with a total value of about $1.72 billion. This means that even at the bottom of the bear market, the institution continues to increase its position. The average cost remains around $3,208, and despite an unrealized loss of $141 million, they keep adding to their holdings, showing a strong long-term bullish outlook.

In terms of leverage, they borrowed 8.87 billion USDT via Aave, with an overall leverage ratio of about 2x. This setup reflects a proactive attitude without excessive risk-taking—very much in line with risk control logic of major institutions.

On-chain data indicates one thing: Ethereum, as an ecosystem public chain, remains sufficiently attractive. The recent wave of accumulation since the end of last year is being copied by more and more major funds. Breaking the 10,000 mark in the short term may still take time, but in the long run, this direction seems inevitable.