Corporate Dev Ethereum Raises 297 Million Dollars in 2 Days as Price Rises! - Coin Bulletin

div[id^="wrapper-sevio-ce3d7766-392e-4b02-a3c2-0c36f7cc4b81"] { display: inline-block; padding-top: 10px; padding-bottom: 10px; }

@media only screen and (min-width: 0px) and (min-height: 0px) { div[id^="wrapper-sevio-ce3d7766-392e-4b02-a3c2-0c36f7cc4b81"] { width: 320px; height: 100px; } }

@media only screen and (min-width: 728px) and (min-height: 0px) { div[id^="wrapper-sevio-ce3d7766-392e-4b02-a3c2-0c36f7cc4b81"] { width: 728px; height: 90px; } }

Abraxas Capital withdrew a total of 138,511 ETH worth 297 million dollars from exchanges in the last two days and is implementing a large Ethereum accumulation strategy.

Institutional investors' presence in the cryptocurrency market continues to grow. According to the latest data shared by the blockchain analysis platform Lookonchain, a company named Abraxas Capital is pursuing an aggressive strategy in accumulating Ethereum (ETH).

According to Lookonchain's report, Abraxas Capital has withdrawn a total of 138,511 ETH from various cryptocurrency exchanges in the last two days. At current ETH prices, this amount corresponds to approximately 297 million dollars. This large amount of purchase is interpreted as a sign of institutional investors' confidence in ETH prices.

div[id^="wrapper-sevio-b3ce5b60-2c13-4244-9d7d-ac51d3cdb72e"] { display: inline-block; padding-top: 10px; padding-bottom: 10px; }

@media only screen and (min-width: 0px) and (min-height: 0px) { div[id^="wrapper-sevio-b3ce5b60-2c13-4244-9d7d-ac51d3cdb72e"] { width: 320px; height: 100px; } }

@media only screen and (min-width: 728px) and (min-height: 0px) { div[id^="wrapper-sevio-b3ce5b60-2c13-4244-9d7d-ac51d3cdb72e"] { width: 728px; height: 90px; } }

While the ETH price is rising, accumulation continues.

In a post shared earlier on May 9, it was reported that Abraxas Capital withdrew 61,401 ETH from exchanges in the last two days, worth approximately 116.3 million dollars. According to the latest data, the company appears to have accelerated its ETH accumulation strategy.

This situation coincided with Ethereum gaining more than 20% in value in the last 24 hours, exceeding $2,300. Despite this price increase, Abraxas Capital's continued purchases demonstrate the company's belief in ETH's long-term potential.