#ETH Institution Abraxas Capital Mgmt has once again made a significant purchase of ETH, with clear bullish signals!

🔹 Latest Operation:

In the past 9 hours, this institution has withdrawn 5,295 ETH from Binance, spending approximately 13.8 million USD, with an average price of 2,606 USD per coin.

🔹 Overall Actions in the Past 8 Days:

They have withdrawn a total of 205,387 ETH from exchanges, with a total expenditure of about 476 million USD, at an average cost of 2,321 USD per coin.

At current market prices, this batch of ETH has already generated a profit of over 55 million USD, with an increase of about 11.5%.

🔹 Operation Strategy Revealed:

They are not only buying ETH but also operating through a leveraged method:

Depositing ETH and BTC into lending platforms → Borrowing stablecoins → Going back to buy more ETH or BTC.

This is a method of amplifying returns, indicating that they are very optimistic about future market trends.

🔹 Holdings:

Currently, they hold a total of 476,405 ETH through multiple associated addresses, with a total market value of approximately 1.229 billion USD at current prices.