logo

Abraxas Capital withdraws $297M in ETH, signaling a bullish market shift

By: cryptosheadlines|2025/05/10 16:45:06
0
Share
copy
Airdrop Is Live CaryptosHeadlines Media Has Launched Its Native Token CHT. Airdrop Is Live For Everyone, Claim Instant 5000 CHT Tokens Worth Of $50 USDT. Join the Airdrop at the official website, CryptosHeadlinesToken.com Abraxas Capital has withdrawn 138,511 ETH, worth $297 million, from centralized exchanges over the past two days.According to data from Lookonchain, the London-based asset management firm’s activity coincides with a sharp surge in Ethereum’s (ETH) price, which jumped over 20% in the past 24 hours to reach $2,371 before settling near $2,295.The size and timing of this withdrawal suggests a shift toward long-term custody and reduced intention to sell. Such moves are often interpreted as bullish signals, as they decrease immediate market supply and reflect confidence in further price appreciation.Abraxas Capital’s large-scale transfer is drawing attention amid a broader wave of accumulation. While the firm withdrew 61,401 ETH over two days, the total figure across multiple transactions reached 138,511 ETH, according to onchain data. Ethereum futures and volumeThe withdrawals occurred as Ethereum saw a 20% rise in futures open interest and a 184% jump in trading volume, per Coinglass. At the same time, over $265 million in short positions were liquidated, accelerating the price move.Though ETH has gained 54% in the last month, it remains down 26% for the year. However, analysts at CryptoQuant point out that Ethereum is now at its most undervalued level relative to Bitcoin since 2019, based on the ETH/BTC MVRV ratio.Abraxas Capital’s operations highlight the increasing involvement of institutions in the Ethereum markets. Established by Fabio Frontini in 2002 with the aim of creating a top-tier asset management firm, Abraxas Capital Management has focused on digital assets since 2017, quickly rising to become a global leader in the field. Source link

You may also like

Abraxas Capital Mints $2.89 Billion USDT: Liquidity Boost or Just More Stablecoin Arbitrage?

Abraxas Capital just received $2.89 billion in freshly minted USDT from Tether. Is this a bullish liquidity injection for crypto markets, or is it business as usual for a stablecoin arbitrage giant? We analyze the data and the likely impact on Bitcoin, altcoins, and DeFi.

A VC from the Crypto world said AI is too crazy, and they are very conservative

Amid the Crypto frenzy and with investors who once missed out on Pinduoduo, a new AI fund called Impa Ventures was established, rejecting bubble narratives and adhering to a conservative "problem-first" strategy to seek real business value.

The Evolutionary History of Contract Algorithms: A Decade of Perpetual Contracts, the Curtain Has Yet to Fall

The ten-year evolution of perpetual contracts: from pulling the plug on 312 to the shocking short squeeze of TRB, a deep dive into the pricing machine that averages $200 billion daily, written with countless liquidations and real money, detailing the blood and tears of risk control theory.

Kicked out by PayPal, Musk aims to make a comeback in the cryptocurrency market

Cashtags generated a trading volume of 1 billion dollars just a few days after its launch, marking a strong start for Musk's super app strategy. For the cryptocurrency market, X's layout may be one of the most anticipated sources of retail growth after the meme coin craze subsides.

Solana ETF News: What Is a Solana ETF and Why Is Goldman Sachs Betting $108 Million on SOL?

Solana ETF news today shows Goldman Sachs disclosed a $108M position while total SOL ETF inflows reached $1.45B. Analysts now expect up to $6B in institutional demand as Solana trades 71% below its all-time high.

Bitcoin ETF News Today: $2.1B Inflows Signal Strong Institutional Demand for BTC

Bitcoin ETFs news recorded $2.1B inflows over 8 consecutive days, marking one of the strongest recent accumulation streaks. Here’s what the latest Bitcoin ETF news means for BTC price and whether the $80K breakout level is next.

The Joker is back
Bigger pools, auto-play, lucky buffs.
The Joker is backJoin now and grab your rewards.

Popular coins

Latest Crypto News

20:42

Sources: US-Iran negotiations are "highly likely" to achieve a breakthrough

Government sources have confirmed that the talks between the U.S. and Iran in Islamabad are "highly likely to achieve a breakthrough," with a delegation led by Iranian Foreign Minister Amir-Abdollahian expected to arrive in the Pakistani capital tonight. Earlier today, the Iranian Foreign Minister h...
20:42

Gate Research Institute: Polymarket Accelerates Growth, Gate Strategizes New Entry into Prediction Markets

Gate Research Institute released a market forecast report titled "Polymarket Growth Accelerates, Gate's Layout for New Entry into Prediction Markets," which dissects trading volume, fee mechanisms, and market structure. The report points out that Polymarket's trading volume and active users continue...
20:42

NeoSoul co-founder Kaelan: The AI industry should allow for the existence of toys, as innovation often first appears in experimental forms

Recently, at the Hong Kong Smart Crypto Finance High-End Forum, NeoSoul co-founder Kaelan stated that the AI industry is still in the early stages of rapid evolution. When evaluating AI projects, it is important to not only look at the current products but also to assess whether the team can keep up...
20:42

Data: Bitcoin shows bullish signals, Vector framework momentum indicator rises to 1

Glassnode indicates that Bitcoin is currently showing bullish signals, with its Vector framework triggering a clear signal. Among them, a momentum indicator above 0.5 is considered bullish, while below -0.5 is considered bearish, and the current value is 1; meanwhile, the risk index has completely r...
BTCBTC
--
19:42

Data: HYPE Financial Company HypeStrat has increased its holdings by 186,877 HYPE in the past 4 days, worth 7.6 million USD

According to data from Hypurrintel, HYPE Treasury Company HypeStrat has increased its holdings by 186,877 HYPE in the past 4 days, worth 7.6 million dollars.HypeStrat currently holds 19.15 million HYPE, valued at approximately 780 million dollars, along with 112 million dollars in cash.
Read more
Community
iconiconiconiconiconiconicon

Customer Support Bot：@WEEX_support_smart_Bot

VIP Services：support@weex.com