Trend Research's recent activities in the Ethereum market have attracted attention. This research institution under Yilihua has become the third largest holder of ETH, with on-chain wallets showing a current holding of 645,526 ETH, worth approximately $2.13 billion.

Looking at the build-up pace, since November 2nd, Trend Research has launched a new round of Ethereum accumulation. Data shows they have accumulated a total of 715,526 ETH from exchanges, equivalent to $2.36 billion. However, during November 15-16, the institution deposited $70,000 worth of ETH into Binance, so the actual holdings are slightly less than the total accumulated.

This scale is already quite substantial. In the overall Ethereum holding landscape, it ranks second only to Bitmine and SharpLink, becoming the third largest holder in the market. Notably, Yiboss previously publicly stated plans to buy an additional $1 billion worth of ETH. If this commitment is actually implemented, their holdings could approach 1 million ETH, potentially surpassing SharpLink to become the second largest holder.

From taking profits in October to the current new round of accumulation, this institution's operational strategy is clear—seeking opportunities amid market volatility. Every move they make is recorded on the chain, allowing investors to track these major players' holdings changes and cost basis in real time.