#BTC Abraxas Capital Mgmt transferred 2000 CBBTC to Coinbase, suspected sale
3 hours ago, Abraxas Capital Mgmt transferred approximately 2000 CBBTC (pegged to BTC assets) to Coinbase, with a total value of about $205 million, at an average price of $102,605. If this is a sale operation, it is expected to yield a profit of about $23.9 million, with a return rate of approximately 13.18%.
Overall, the remaining 2491 CBBTC previously purchased by the institution currently has a total value of about $256 million, with an average cost price of $90,651, showing an unrealized profit of approximately $30.69 million, with an unrealized profit rate of 13.18%.
On-chain data shows that Abraxas Capital Mgmt currently holds a total of 4747 BTC through multiple addresses, valued at about $488 million, indicating its heavy position in BTC. The overall operational rhythm is stable, continuously cashing out profits gradually at high levels, demonstrating strong market judgment and execution capabilities.
