Abraxas Capital Mgmt Sells $75.39 Million in WBTC and ETH: Major Transfers to Binance and Bitfinex Revealed

On November 11th, a significant movement in the cryptocurrency market was reported by COINOTAG. An address beginning with 0xEd0, linked to Abraxas Capital Management, executed a substantial liquidation totaling $75.39 million in Wrapped Bitcoin (WBTC) and Ethereum (ETH). Furthermore, within a four-hour timeframe, this particular wallet transferred 200 WBTC, equivalent to around $16.21 million, to Binance, while also depositing 18,500 ETH worth approximately $59.18 million onto Bitfinex. These transactions reflect strategic portfolio adjustments and highlight the ongoing dynamics within the crypto landscape, certainly warranting close attention from investors and analysts alike.