Currently, apart from Trend Research holding up to 651,300 ETH ($1.92 billion) through leveraged borrowing, there is another whale that also holds 596,800 ETH ($1.765 billion) through leveraged borrowing: the "7 Siblings," who like to buy ETH after significant declines.
The "7 Siblings" have deposited 596,800 ETH ($1.765 billion) on the lending protocol Spark through 8 addresses, making them the largest depositors on Spark. They then borrowed $193 million in stablecoins (including DAI, USDT, USDS) from Spark.
These borrowed stablecoins were used to purchase 49,287 ETH during the market downturn in October-November last year, with an average price of $3,531. To date, they have incurred an unrealized loss of $27.7 million.
Addresses ranked 2nd to 7th, as well as 10th and 11th on Spark belong to the 7 Siblings.