Trend Research, an investment entity linked to Jack Yi (also known as Eric Li) — the founder of LD Capital — has drawn significant attention after substantially increasing its exposure to Ethereum (ETH). As of January 20, 2026, the firm’s total Ethereum holdings have surpassed $2 billion, marking one of the largest known private accumulations of ETH in recent months.
The accumulation took place during a broader market pullback, with Ethereum trading near the $3,000 support zone, a level widely regarded as a key structural area. Rather than chasing upside momentum, Trend Research appears to have strategically accumulated into market weakness, signaling a long-term conviction-driven approach.
According to available data, the firm acquired more than 650,000 ETH, bringing its total holdings to approximately 651,300 ETH. Depending on market fluctuations, the position is currently valued between $1.92 billion and $2.08 billion. The estimated average entry price is believed to range from $3,105 to $3,186 per ETH, suggesting disciplined accumulation during periods of price consolidation rather than aggressive breakouts.
Leverage Strategy Highlights Institutional-Style Positioning
Notably, Trend Research employed leverage to optimize capital efficiency. Roughly $958 million of the position is backed by stablecoin loans sourced via Aave, one of the largest decentralized lending protocols. This approach allowed the firm to increase exposure to Ethereum without liquidating existing assets, a strategy more commonly associated with sophisticated institutional players.
By combining spot accumulation with DeFi-based leverage, Trend Research has positioned itself among the largest private Ethereum holders globally. The move underscores a high level of confidence in Ethereum’s long-term role as a core digital asset, particularly as the network continues to dominate decentralized finance, smart contracts, and on-chain settlement activity.
Market Implications
Large-scale accumulation during market downturns often attracts attention due to its potential signaling effect. While such activity does not guarantee future price performance, it does reflect a willingness among well-capitalized investors to absorb supply during periods of uncertainty. For market participants, this highlights Ethereum’s continued relevance as a foundational layer within the digital asset ecosystem.
This article is for informational purposes only and reflects personal blog content. It does not constitute financial or investment advice. Readers should conduct their own research and are solely responsible for any investment decisions they make.
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