A UK-based investment manager, Abraxas Capital Management, withdrew over $206 million worth of Ethereum from Bitfinex and deposited it into Spark for collateral. The firm then borrowed 101 million DAI from Spark, exchanged it for USDC, and deposited the USDC into Binance. Ethereum’s current trading price is $3,442, up nearly 3% in the past week but down almost 10% in the past month.
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0 posts last weekWhales Accumulate Ethereum as Prices Surge and Institutions Profit
Bitcoin and Ethereum prices have surged, with significant activity on the network leading to a total liquidation of $148 million in the past 24 hours. The digital asset investment market continues to see strong inflows, reaching an all-time high of $13.8 billion for the year. Whales have been accumulating massive amounts of Ethereum, with notable buying activity and profitable trades observed.
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