Abraxas bets $560 million on Ethereum, completely abandons Bitcoin to ignite a market frenzy!

Abraxas Capital aggressively buys Ethereum, purchasing over 240,000 coins in a single week.

In the past 7 days, Abraxas Capital has acquired 242,652 Ethereum, worth $561 million, becoming a heavyweight whale in the ETH market. Frequent large purchases and nearly 200 transactions show strong betting signals.

Massive sell-off of Bitcoin, funds fully shift to ETH.

During the same period, Abraxas sold nearly 3,000 Bitcoin, with the focus of funds rapidly shifting from BTC to ETH. The latest holdings are down to less than 1,000 BTC, valued at less than $100 million, while ETH holdings have surged to $560 million, causing a stir in the industry.

The underlying strategy: betting on Ethereum's explosive potential, seizing the DeFi and NFT wave.

Abraxas is optimistic about Ethereum as the core of the blockchain ecosystem, especially its dominance in the DeFi, NFT, and stablecoin sectors. Industry opinion suggests that this influx of funds signals the onset of a new bull market for Ethereum.

Future outlook: Ethereum may become the new king, with reserves expected to exceed 10 million coins by 2026.

Analysts predict that by 2026, Ethereum's strategic holdings will soar to the tens of millions, fully surpassing Bitcoin. Abraxas's bold moves may be a harbinger of a new landscape in the crypto market.

Summary: Abraxas abandons Bitcoin for Ethereum, betting on the future, with a market storm on the horizon!