According to data from Lookonchain, the investment fund Abraxas Capital has continued to increase its Ethereum (ETH) holdings after three days of trading suspension, with a purchase of 46,295 ETH, valued at approximately $115.3 million.
This move marks the next purchase in Abraxas Capital's strong chain of Ethereum accumulation activities since May 7. In total, the fund has bought 350,703 ETH at a Medium average price of around $2,386 per ETH. At the current price of ETH, this investment has generated an estimated book profit of around $50 million.
Abraxas Capital's continued increase in ETH ownership demonstrates the organization's long-term confidence in Ethereum's growth potential, especially in the context of the cryptocurrency market experiencing positive fluctuations again. This move could also be a signal that large financial institutions are returning to the market with a selective investment strategy, focusing on digital assets with solid foundations like Ethereum.
