Crypto Firms K3 Capital and Abraxas Capital Withdraw Over $30 Million in Ethereum From Exchanges

Several major crypto investment firms have moved substantial amounts of Ethereum from exchanges, highlighting increased institutional activity in the market.

Specifically, a wallet linked to K3 Capital recently withdrew 10,000 ETH, valued at around $17.85 million, from Binance.

Shortly after, the FCA-regulated investment firm Abraxas Capital also transferred 6,948 ETH worth approximately $12.42 million from Binance and Bitfinex.

The large-scale withdrawals come as Ethereum trades just below $1,800, with the cryptocurrency gaining 13.4% over the past 14 days.

Source: Lookonchain