Ethereum (ETH) is experiencing a renewed surge in interest, driven by major investor activity and growing bullish sentiment. This has led to a significant increase in the price of ETH, which has surged over 6.5% within the past 24 hours to reach nearly $1,955. Analysts point to DeFi growth and institutional investments as potential driving forces behind this resurgence. Recent on-chain data from Lookonchain reveals Abraxas Capital Management, a prominent crypto investor firm, has been aggressively accumulating ETH in a single day, withdrawing over 74,000 ETH ($150 million). This follows an earlier withdrawal of 33,035 ETH by the same firm. Abraxas Capital’s history of employing traditional finance strategies while navigating the crypto space suggests their confidence in Ethereum’s long-term potential.