66k ETH Borrow Adds $121M to Trend Research’s Wallet Boosted

On Monday, Trend Research partner Jack Yi said the firm has remained a major Ethereum bull since the October 11 "1011 incident," writing on X. He described the firm’s approach as a long-term, dollar-cost averaging strategy rather than an attempt to time market bottoms. (Dollar-cost averaging: periodically buying a fixed dollar amount of an asset to reduce timing risk.)

On-chain tracker Lookonchain reported that the wallet dubbed the "66k ETH borrow" added 40,975 ETH, roughly $121 million, on Monday. The wallet’s campaign began in early November and has purchased about 569,247 ETH, totaling roughly $1.69 billion since Nov. 4. About $881.5 million of that capital was borrowed through Aave (a decentralized finance lending protocol).

Ethereum traded near $2,960 during the update, with retail sentiment on Stocktwits remaining ‘bearish’. Social chatter around ETH declined from normal to low levels over 24 hours. Meanwhile, BMNR shares closed at $28.31 and were trading at $28.66 in pre-market, despite retail sentiment labeled ‘extremely bearish’ and low chatter.

Trend Research’s method uses leveraged accumulation via decentralized lending platforms to increase ETH exposure without selling other assets. By contrast, BMNR funds purchases directly from its balance sheet as a corporate treasury activity. (DeFi: decentralized finance platforms that allow lending, borrowing, and trading without centralized intermediaries.)

For factual verification, see the linked posts by Jack Yi and Lookonchain above.

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