📰📰📰📰📰 Abraxas Capital continues to buy $ETH — why do they need so much?

Since May 7, the fund has withdrawn 278,639 ETH from exchanges for a total of $655M at an average price of ~$2,350. Their unrealized profit is now $77M.

This is not just a large purchase — it's a powerful signal: institutions not only believe in Ethereum, they are betting on its growth.

Link to on-chain data: [Arkham]