Abraxas Capital Moves $297M in Ethereum Off Exchanges

Recent on-chain data tracked by Lookonchain shows that Abraxas Capital has withdrawn a total of 138,511 ETH from centralized exchanges in just the last two days — a massive move worth approximately $297 million.

This significant transfer suggests a strategic shift, possibly pointing toward long-term holding or preparation for institutional custody. Either way, it’s a move the market is watching closely.

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