2025-12-29 08:29:59

A well-known investment firm's secondary fund added to its position again this afternoon, purchasing 20,850 ETH in one go, spending nearly $63 million.

What's even more interesting is that they then borrowed $40 million USDT from a lending protocol and directly transferred it to an exchange. This operation clearly indicates that the leveraged ETH buying game is still ongoing.

Currently, this institution holds a total of 601,076 ETH through borrowing leverage, with a book value of $1.82 billion. However, the average cost might be over $3,200 per ETH, making the current unrealized loss approximately $110 million. The debt scale in the lending market is $958 million, and this leveraged bet is set to continue.

ETH-0.74%

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ContractHunter

· 6h ago

They're starting to leverage again. Are these institutions really not afraid of a market crash?

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GweiWatcher

· 6h ago

Large institutions are still holding on stubbornly, with an unrealized loss of 110 million and still borrowing money to buy. Is this out of spite or do they have insider information?

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SatoshiLeftOnRead

· 6h ago

Leverage, huh? When you make money, it's exhilarating, but when you lose, you go bankrupt instantly. This guy is really walking a razor's edge.

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AirdropChaser

· 6h ago

Starting to leverage again, is this for real this time or just a bagholder?

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MoneyBurnerSociety

· 6h ago

Well, this operation... to put it simply, losing 110 million while still leveraging. How do I feel like I'm watching my own investment diary? The entry cost is still 3,200 dollars, and borrowing 958 million to keep going all in. I can't learn this kind of courage. Institutions play like this, and us retail investors should be even more cautious. It's hilarious. Honestly, with a debt scale nearing 1 billion, still daring to keep betting. Either they see through the market outlook or they are forced to go all the way to the black. This is the real case I mentioned before: "liquidation price is the target price," everyone.

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HodlTheDoor

· 6h ago

Everyone is leveraging, this round isn't over yet

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