Abraxas Capital Accumulates $ETH Worth $399M in Three Days Amid 44% Price Surge


Abraxas Capital has aggressively accumulated Ethereum, withdrawing 185,309 $ETH valued at approximately $399 million from exchanges over just three days.


The massive withdrawal coincides with Ethereum's impressive 44% price surge from $1,800 to $2,600.


Data from Lookonchain confirms the London-based asset management firm's activity aligns with sharp upward momentum in the #Ethereum market.


Major withdrawals were primarily made from Binance and Kraken, signaling strong institutional confidence in Ethereum's prospects.


This significant accumulation by a single firm suggests growing institutional #bullish sentiment toward the second-largest cryptocurrency.

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May 11, 2025 at 11:41 PM
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