Abraxas Capital Buys 278,639 ETH Worth $655 Million

Abraxas Capital Buys 278,639 Ethereum Worth $655 Million

Since May 7, 2025, Abraxas Capital has bought 278,639 ETH worth approximately $655 million from multiple cryptocurrency exchanges according to Lookonchain.

 The firm made these purchases at an average price of $2,350, suggesting a high level of confidence in Ethereum's mid-to-long-term upside.

Just days ago, Abraxas Capital bought another 33,482 ETH worth $84.7 million, bringing their total purchases over the last 6 days to 211,030 ETH worth $477.6 million. With today's addition, the firm now owns ETH worth 4655 million.

With ETH now trading around $2.5k, Abraxas is already sitting on an unrealized profit of around $77 million.

What This Means For ETH

The Abraxas capital purchases arise from the broader market trend. Whales and institutions have taken the time to continue accumulating the altcoin after Ethereum made a vital recovery, surpassing the $2k resistance a week ago.

Also Read: Ethereum whales Dump 44,285 ETH worth $115 million

The buying activity from Abraxas Capital implies the firm is moving tokens to cold wallets or custodial solutions for long-term storage. That’s a bullish stance that signals belief in Ethereum’s future utility and value. Equally, every time large investors remove ETH from exchanges, it reduces available liquidity. With fewer tokens on the market, the chances of large-scale dumping fall, and if demand remains constant, upward price pressure builds.

Finally, since retail investors often react to news. Institutions like Abraxas create the news, with big moves like this. A $655 million investment reflects and long-term conviction in Ethereum's future potential. Retail investors can follow the news of institutional purchases to also enter the market and buy.

The continued buying spree creates higher pressure on the demand that drives prices.

Institutional demand sets ETH to rally from the current prices and possibly breach the $1.8k resistance and make a jump towards $3k.