Trend Research has accumulated 645,526 ETH, valued at $21.3 billion, making it the third largest Ethereum holder after Bitmine and SharpLink. This follows a strategic acquisition phase that began on November 2, after realizing profits in October. Initially, Trend Research withdrew 715,526 ETH (worth $23.6 billion) from exchanges, but later deposited $70,000 worth of ETH back to Binance on November 15-16. If Trend Research's leader fulfills a promise to invest an additional $1 billion, their holdings could approach 1 million ETH, potentially surpassing SharpLink to become the second largest Ethereum holder.