Abraxas Capital Mgmt has been continuously increasing its positions, having withdrawn a total of 131,064 ETH worth over $322 million from exchanges in the past 6 days. In the past 4 hours, the institution withdrew another 3,826 ETH from Binance, with a total purchase value of approximately $9.37 million at an average price of $2,449 per coin. On-chain data shows that Abraxas Capital Mgmt withdrew a total of 131,064 ETH in the past 6 days, with a total purchase value of about $283 million, and an average purchase price of approximately $2,164 per coin. Currently, this batch of funds has an unrealized profit of around $39 million, with a profit margin of about 13.6%. The funding path of the institution further indicates that it is constructing a leveraged accumulation strategy by depositing BTC and ETH into lending platforms to borrow stablecoins, then repurchasing BTC and ETH, with a total holding of 419,582 ETH worth approximately $1.03 billion. This indicates a strong bullish outlook on the medium to long-term trends in the BTC and ETH markets.