According to Lookonchain, Abraxas Capital has borrowed USDT to purchase an additional 242,652 ETH, equivalent to $561 million, over the past week. This aggressive accumulation coincided with a sharp increase in Ethereum's price from $2,460 to over $2,700, a gain of approximately 10%. The on-chain data from intel.arkm.com confirms these large-scale purchases. Such significant institutional buying pressure is a bullish signal for ETH traders and can influence short-term price momentum, as large entities entering the market often lead to increased volatility and liquidity. As a result, traders should monitor whale activity and on-chain flows closely for potential trading opportunities and risk management. (Source: Lookonchain, intel.arkm.com)