According to on-chain data, Abraxas Capital bought nearly $400 million in ETH in three days (5.8-11), and during those three days, it withdrew 185,309 ETH from the CEX, worth about $399 million. In addition, Abraxas Capital did not enter the market in the last few days, but started ETH accumulation a few days ago, and a few days before that, Abraxas also withdrew 138,511 ETH (worth more than $290 million), which is about a week or so to accumulate nearly $700 million in ETH. Why is it focused on this week? The main motive is clear only to Abraxas himself. Let's take a look at the background of Abraxas Capital, and you can judge for yourself. Abraxas Capital is an asset management company headquartered in London, founded more than 20 years ago (2002), and has been in the crypto space since 2017, and is currently one of the important institutional players in crypto asset management. Alpha Bitcoin Fund will be launched in 2022 and Alpha Ethereum Fund will be launched in 2023. Its customers are mainly institutional investors and high-net-worth individuals, providing customizable crypto investment products, focusing on arbitrage, DeFi investment, helping to lock tokens to solve liquidity problems, etc. In addition to its activities on CEXs, Abraxas also deposits funds into DeFi protocols (such as Aave, Compound, etc.) to monetize.