Massive ETH Investment Fuels Ethereum Rally – Abraxas Capital’s $500 Million Buys Spark Discussion

Abraxas Capital, a London-based asset management firm, made a significant move in the Ethereum market. The company purchased nearly $500 million worth of ETH within just six days, as revealed by on-chain data from Lookonchain and Arkham Intelligence. This purchase brings Abraxas’ total holdings to 211,030 ETH (around $477.6 million). Furthermore, the firm borrowed 240 million USDT from Aave prior to these acquisitions and deposited this money into Binance.