According to Cas Abbé (@cas_abbe), Abraxas Capital has significantly increased its Ethereum holdings by purchasing an additional 57,343 ETH valued at $151 million within the last 24 hours. This accumulation brings their total ETH reserves to 242,000, positioning Abraxas Capital as a major institutional ETH holder. The continued large-scale purchases echo MicroStrategy’s aggressive Bitcoin acquisition strategy, signaling bullish institutional sentiment for Ethereum. For traders, this persistent accumulation trend could indicate strong potential for upward price momentum and increased institutional demand, which may impact ETH’s liquidity and price volatility in the crypto market (Source: Cas Abbé on Twitter, May 14, 2025).