Abraxas Capital is driving Ethereum prices higher with significant investments, exceeding $561 million in purchases via strategic Aave loans. This aggressive approach has contributed to a 10% price surge and shifted the dynamics of whale behavior. The firm’s actions highlight a shift towards long-term ETH accumulation strategy amidst sustained market growth. Abraxas Capital recently secured a $240 million USDT loan on Aave and quickly deployed this capital into Ethereum purchases, driving ETH prices to new highs. Coinciding with this buying spree, large whale holdings of 10,000-100,000 ETH have surged, aligning with a notable increase in institutional confidence in the long-term value of Ethereum. Abraxas Capital’s strategic actions have significantly impacted the market, demonstrating a unique approach to cryptocurrency investment.