Abraxas Capital Bets $837 Million on Ethereum: What It Means for the Altcoin Season

Abraxas Capital, a $3 billion investment management firm, has allocated $837 million toward Ethereum (ETH), boosting its total portfolio value to over $950 million. This bold move reflects growing institutional confidence in ETH and has sparked speculation among analysts about the potential onset of an altcoin season. Notably, the firm’s decision to increase its holdings comes amid rising interest in Ethereum. Traders have been increasingly buying ETH, leading to a significant drop in exchange reserves to their lowest levels in nine months source: https://beincrypto.com/abraxas-capital-buys-ethereum/