Abraxas Capital Moves $29.4M in ETH After Withdrawing 13.5K ETH From Aave

Institutional investment firm Abraxas Capital moved approximately $29.4 million worth of Ethereum (ETH) after withdrawing assets from the Aave lending protocol and receiving an additional transfer from Binance, according to on-chain data.

Abraxas Capital withdrew 13,500 ETH, valued at roughly $26 million, from Aave as part of the transaction. The fund converted its Aave-wrapped Ether holdings into native ETH, redeeming 6,000 aETHWETH and 7,500 aETHWETH during the process.

Separately, the firm received an additional 1,790 ETH, worth about $3.4 million, in a transfer from cryptocurrency exchange Binance. 

Combined, the movements totaled approximately $29.4 million in Ether. The transactions included a reallocation of ETH holdings from the Aave protocol to native Ether, as well as an inbound transfer of 1,790 ETH from Binance.

Source: Onchain Lens