Abraxas Capital moved sizable crypto positions within a three-hour window, according to on-chain tracker Lookonchain. The firm withdrew 8,153 ETH, worth about $15.3 million, from Binance and Bybit. Over the same period, it deposited 618 BTC, worth about $39.99 million, to Kraken.
The transfers point to a possible portfolio shift. Based on the observed fund movements, Abraxas Capital may be reducing its BTC exposure while increasing its ETH holdings. The reported activity was cited by Odaily from Lookonchain monitoring data.
No additional details were provided in the source about the purpose of the transfers or whether the assets were later moved again. The report focused on the amounts, the exchanges involved, and the timing of the transactions.
Abraxas Capital moved large crypto positions over the past three hours, according to monitoring by Lookonchain cited by Odaily.
The firm withdrew 8,153 ETH, valued at about $15.3 million, from Binance and Bybit. During the same period, it deposited 618 BTC, valued at about $39.99 million, to Kraken.
The fund flows suggest Abraxas Capital may be cutting its BTC holdings while adding to its ETH position.
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