Abraxas Capital’s $ETH Accumulation Hits $655M—$77M in Unrealized Gains

Abraxas Capital isn’t slowing down.

Since May 7, the fund has quietly withdrawn 278,639 ETH (worth $655 million) from exchanges at an average price of $2,350—a strong accumulation pattern during a period of price uncertainty.

With ETH currently trading higher, #Abraxas now sits on an unrealized profit of $77 million.

Track the wallet:

0xEd0C6079229E2d407672a117c22b62064f4a4312

This move signals growing institutional confidence in #ETH 's long-term upside.