Abraxas Capital Withdraws $400 Million in Ethereum, Fueling Price Surge

Abraxas Capital’s significant withdrawal of 185,309 ETH worth $400 million from major cryptocurrency exchanges has triggered a notable impact on Ethereum prices. This strategic move, conducted under the Heka Fund label, reflects growing confidence in the long-term growth potential of the blockchain technology. Analysts attribute this price rise to the large-scale acquisition, indicating institutional interest in Ethereum.