Abraxas Capital Drops $400M on ETH—Is Ethereum the Ultimate Crypto Play Right Now?

Hedge funds are doubling down on crypto—and this time, it’s not just Bitcoin getting the love. Abraxas Capital just parked $400 million in Ethereum, signaling big money’s growing appetite for altcoins. Here’s why ETH might be the smartest bet in the circus of digital assets.

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The Whale Move That Shook Crypto

Abraxas isn’t some crypto tourist. The firm’s massive ETH buy mirrors institutional sentiment shifting beyond Bitcoin maximalism. With Ethereum’s upcoming protocol upgrades and its dominance in DeFi, smart money sees ETH as the ’blue chip’ of altcoins—even if gas fees still make retail traders weep.

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Beyond the Hype: Ethereum’s Real Utility

While meme coins pump and dump, Ethereum’s network hosts 80% of DeFi projects and most major NFT platforms. That actual utility—plus the looming EIP-4844 upgrade promising lower transaction costs—makes ETH less speculative than most crypto assets. (Though let’s be real—everything in crypto is still speculative compared to, say, a boring old Treasury bond.)

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The Bottom Line

When a $400M bet lands on ETH instead of BTC, pay attention. Ethereum’s fundamentals are strengthening just as institutional interest heats up—a combo that could push ETH past its previous ATH. Just don’t expect Wall Street to admit they’re chasing the same rockets as degens.

• Abraxas Capital accumulated $400 million worth of Ethereum within three days of the Pectra upgrade, highlighting support for the evolving Layer 2 landscape.

• Among the emerging Layer 2 solutions, viral presale token Bitcoin Pepe (BPEP) is gaining mainstream attention as the best crypto to buy now, listing on May 31.

The crypto market is experiencing a resurgence after a long correction period. Over the past week, there have been increasing institutional inflows and whale accumulations in top altcoins such as Bitcoin and Ethereum. Abraxas Capital has purchased 185,309 ETH at around $400 million within three days between May 8 and May 11, 2025.

Abraxas Capital is aggressively accumulating $ETH.

In the past 3 days, they’ve withdrawn 185,309 $ETH($399M) from exchanges—just as $ETH surged from $1,800 to $2,600, a 44% jump.https://t.co/i7WGntzUCs pic.twitter.com/u0xUjefmDL

Abraxas Capital’s massive accumulation came after the Pectra upgrade, which further fueled the ETH price surge. This move signals confidence in Ethereum’s long-term value and highlights growing institutional interest in DeFi and layer-2 scaling solutions.

Here are the best cryptos to buy:

Bitcoin Pepe (BPEP): Riding the bull wave on Bitcoin’s back

, the first meme ICO on Bitcoin, could replicate PEPE’s explosive performance on the ethereum network. However, despite being a meme-based project, Bitcoin Pepe also has serious and practical use cases that attract not only meme enthusiasts but also DeFi advocates.

For the longest time, investors have been unable to trade memes on Bitcoin because of the network’s technical limitations. Bitcoin Pepe is addressing this issue by bringing Solana on Bitcoin, making it more scalable, faster, and cheaper to trade memes on the most trusted network.

With the revolutionary PEP-20 token standard, the project is opening the gateway to a new era of token creation, where anyone can launch memes natively on Bitcoin. Now, all meme coins can return to the OG blockchain network, and zoomer investors can experience Solana-like efficiency combined with Bitcoin’s unmatched boomer security.

You’ve seen me talking about @BitcoinPepe_ before and now their presale is ending May 31st.

Hearing 10+ major partnerships on the horizon and Tier 1 listing!

Take this as your signal to buy up as this is going to pump.https://t.co/Y8kC3UTDBC

The bitcoin Pepe presale offers BPEP at a low price of $0.0326 in stage 10. The presale is in its final phase, and the token will list on May 31 across multiple exchanges. With the project gaining momentum, BPEP is the best crypto to buy now, as investors can quickly make huge returns by purchasing it at a discounted price before its market debut.

Is an Ethereum all-time high coming this season?

Theprice faced an extended decline after its last rally in December 2024 and slumped to a devastating low last month at $1,383. ETH was oversold at this point, resulting in investor sentiment shifting, and a newfound buying pressure sparked a trend reversal.

Since the reversal, Ethereum has recovered remarkably, gaining over 75% to the current $2,452 within just five weeks. Over the past week, institutional capital inflow has fueled a new market rally, and it has helped ETH reclaim its value in such a short time.

ETH is currently taking a breather after a massive 44% upward MOVE in three days, and the rally is expected to resume, potentially reaching the $2,854 resistance in the short term. If the bullish sentiment continues and the price breaks past this resistance, it can further rise to $3,700 and even create Ethereum all-time highs in this altseason.

PEPE: At the forefront of Ethereum meme coins

is one of the most popular meme coins on the Ethereum network and showed tremendous performance in 2024. It had a net over 2,000% growth from $0.000001295 on January 1, 2024, to the all-time high of $0.00002825 in December.

Now, after a deep correction, Pepe has again started to show similar momentum, as it doubled in price over the past week. However, the price action has slowed in the past few days, and volatility has increased as investors are split between profit taking and acquisition for a continuation of the rally. 

PEPE currently trades at $0.00001312 and has solid support at $0.0000127 but faces rejection at $0.0000142. Despite the volatility, the MACD oscillator indicates increasing bullish pressure, which means PEPE can potentially move past the immediate resistance and attempt a new all-time high with another 100% leg.

While Pepe has the potential to recover further, the majority of crypto investors are moving away from hype-driven tokens and toward projects with real-world utility, such as Bitcoin Pepe, which offer steady growth and significantly higher returns in the long term.

Conclusion

Institutional players have started their accumulation of large-cap crypto, signaling the start of a bull cycle. Massive inflows into Ethereum after its Pectra hard fork that enhances LAYER 2 infrastructure show institutions’ confidence in the future value of such projects.

At the top of the rising layer 2 projects is, which has shown immense upward potential with over $8m raised within just 13 weeks. The project could mirror PEPE’s growth as it transforms and enables Bitcoin to surpass the experience of the Ethereum and solana networks.

The tremendous community support and the May 31 listing announcement make Bitcoin Pepe one of the best cryptos to buy now for impressive returns this year.