An interesting phenomenon worth noting is that Trend Research, an institution under Yilihua, is becoming increasingly active in the Ethereum market.



According to on-chain data, this institution has currently accumulated 645,000 ETH. Based on the current price, the total value of this holding exceeds 2.1 billion USD. How impressive is this number? Trend Research has already become the third-largest holder in the Ethereum market.

Even more exciting is the recent pace of accumulation. The daily increase has reached 137 million USD. The question is—what is the average cost basis of these tokens? When did the key accumulation addresses start to build up? Is this recent wave of buying just market sentiment speculation, or are there genuine major moves ahead?

From the historical records of on-chain addresses, some clues can be seen. But to determine whether this is long-term strategic investment with real capital or just short-term market follow-up, we need to observe subsequent developments.
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