Abraxas Capital Withdraws 21,999 ETH from Kraken Amid Rebound, Securing $658,000 Gains

ETH

ETH/USDT

$2,455.28

-2.83%

$2,455.28

-2.83%

(24s)

24h Volume

$9,683,177,509.17

24h H/L

$2,532.21 / $2,431.61

Change: $100.60 (4.14%)

Long/Short

60.1%

Long: 60.1%Short: 39.9%

Funding Rate

+0.0030%

Longs pay

Data provided by COINOTAG DATALive data

Ethereum

Daily

$2,458.24

▲ 0.10%

Volume (24h): -

Resistance Levels

Resistance 3$2,855.08

Resistance 2$2,593.80

Resistance 1$2,516.30

Price$2,458.24

Support 1$2,445.59

Support 2$2,316.57

Support 3$2,190.00

Pivot (PP):$2,478.04

Trend:Uptrend

RSI (14):62.8

On May 8th, COINOTAG News reported that Abraxas Capital executed a significant withdrawal of 21,999 ETH from Kraken, capitalizing on the current ETH rebound. This transaction, amounting to approximately $39.92 million, was conducted at a withdrawal price of $1,814 per ETH. In a strategic move, the withdrawn Ether has been allocated to Aave and Compound, platforms known for their decentralized finance (DeFi) capabilities. As of now, this maneuver has yielded a realized gain of around $658,000, showcasing the profitability of tactical investments in the dynamic crypto landscape. Such actions reflect the astute market positioning by institutional players amidst evolving market conditions.