#ETH Abraxas Capital Mgmt has been continuously increasing its positions, withdrawing a total of 160,719 ETH worth over $419 million from exchanges in the past 7 days.

In the past 5 hours, the institution again withdrew 29,655 ETH from Binance, with a total purchase value of approximately $75.35 million at an average price of $2,541 per ETH.

According to on-chain data, the institution Abraxas Capital Mgmt has withdrawn a total of 160,719 ETH in the past 7 days, with a total purchase value of approximately $359 million, and an average purchase price of about $2,233 per ETH. Currently, this batch of funds has an unrealized profit of approximately $60.43 million, with an unrealized profit margin of about 16.8%.

The funding path of this institution further indicates that it is constructing a leveraged position strategy by depositing BTC and ETH into lending platforms to borrow stablecoins, and then repurchasing BTC and ETH. It has a total holding of 449,237 ETH, worth approximately $1.172 billion. This shows a strong bullish outlook on the medium to long-term trends in the BTC and ETH markets.