Abraxas Capital Buys $22.88 Million in Ethereum, Extending Weekly ETH Accumulation

Abraxas Capital, a London-based regulated investment firm specializing in digital asset management, acquired an additional 12,477 ETH worth approximately $22.88 million over the past three hours, extending its recent Ethereum buying spree.

The latest purchase brings the firm’s total Ethereum withdrawals over the past week to 45,996 ETH, valued at roughly $84.39 million. The ETH was withdrawn from cryptocurrency exchanges Binance, Bitfinex, and Bybit, reflecting continued accumulation by the investment firm.

The buying activity comes as Ethereum reclaimed the $1,800 price level. The world’s second-largest cryptocurrency was trading at around $1,828 at the time of reporting, up 2.4% over the past week.

Source: Lookonchain