Abraxas Capital Mgmt Latest Developments: Large Rebalancing, Suspected Partial Liquidation

In the past 8 hours, Abraxas Capital Mgmt transferred 9,335 ETH to Binance exchange, worth approximately 22.49 million USD, suspected to be preparing for sale.

Following that, they withdrew a total of 12,667 ETH from Binance and Bitfinex exchanges, worth approximately 30.80 million USD, suspected to continue buying or rebalancing.

Based on data from the past 11 hours, the institution has transferred a total of 28,135 ETH to the exchanges, indicating frequent trading activities recently, possibly conducting phase-based profit-taking or rebalancing operations.