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Abraxas Capital Goes All-In on Ethereum: $84.7 Million Bet Signals Bullish Conviction
Abraxas Capital Goes All-In on Ethereum: $84.7 Million Bet Signals Bullish Conviction
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Hedge fund Abraxas Capital just doubled down on Ethereum in a big way—snapping up 33,482 ETH ($84.7M) in a single move. This isn’t just a dip-buy; it’s a full-throated endorsement of ETH’s long-term value proposition.
Why it matters: When institutional players throw nine figures at a crypto asset, the market pays attention. Abraxas isn’t some meme-stock tourist—they’ve been quietly building positions since 2020.
The cynical take: Nothing says ’confidence’ like a hedge fund hedging its bets with the second-largest crypto. At least they didn’t blow it all on a JPEG of a monkey.
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