London – Crypto Market Insights: Dive In with CryptoUpdate.io https://cryptoupdate.io Latest cryptocurrency news, market updates and analysis Tue, 13 May 2025 20:00:46 +0000 en-US hourly 1 https://wordpress.org/?v=6.9 UK Asset Manager Abraxas Capital Acquires Ethereum Worth $500 Million in Under a Week https://cryptoupdate.io/2025/05/13/uk-asset-manager-abraxas-capital-acquires-ethereum-worth-500-million-in-under-a-week/ https://cryptoupdate.io/2025/05/13/uk-asset-manager-abraxas-capital-acquires-ethereum-worth-500-million-in-under-a-week/#respond Tue, 13 May 2025 20:00:46 +0000 https://cryptoupdate.io/2025/05/13/uk-asset-manager-abraxas-capital-acquires-ethereum-worth-500-million-in-under-a-week/ As per recent onchain data, Abraxas Capital, an asset management firm based in London, has acquired almost half a billion dollars of Ethereum in less than a week. The firm purchased another 33,482 ETH, amounting to $84.7 million, in just the last 12 hours. This purchase brings Abraxas Capital’s total Ethereum acquisition over the past […]

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]]> As per recent onchain data, Abraxas Capital, an asset management firm based in London, has acquired almost half a billion dollars of Ethereum in less than a week. The firm purchased another 33,482 ETH, amounting to $84.7 million, in just the last 12 hours. This purchase brings Abraxas Capital’s total Ethereum acquisition over the past six days to 211,030 ETH, which is approximately $477.6 million, as reported by Lookonchain and confirmed by Arkham Intelligence data.

As of 2:26 p.m. on Tuesday, Ethereum was trading at $2,614.33, showing an increase of about 6% on the day, as per The Block Price Page. Lookonchain also revealed that Abraxas Capital borrowed 240 million USDT from Aave and deposited it on Binance.

Despite Ethereum’s mediocre performance compared to Bitcoin’s gains in recent months, Ethereum surged by 20% last week, exceeding the $2,200 mark, following the significant Pectra upgrade. “ETH is finally catching up after lagging behind Bitcoin for most of the year,” commented Min Jung, a research analyst at Presto Research.

Director of LVRG Research, Nick Ruck, informed The Block that the Pectra upgrade triggered bullish price action. “In addition to positive macroeconomic news, traders think that the crypto industry may have regained momentum as a hedge against market uncertainty,” Ruck stated last week.

Disclaimer: The Block is an independent media outlet that provides news, research, and data. Foresight Ventures, a majority investor of The Block as of November 2023, invests in other companies in the crypto space and is an anchor LP for Bitget, a crypto exchange. The Block continues to deliver objective, impactful, and timely crypto industry information independently. Current financial disclosures can be found here.

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]]> https://cryptoupdate.io/2025/05/13/uk-asset-manager-abraxas-capital-acquires-ethereum-worth-500-million-in-under-a-week/feed/ 0 Delay in Ethereum Upgrade and its impact on market value of ETH! https://cryptoupdate.io/2022/04/18/delay-in-ethereum-upgrade-and-its-impact-on-market-value-of-eth/ https://cryptoupdate.io/2022/04/18/delay-in-ethereum-upgrade-and-its-impact-on-market-value-of-eth/#respond Mon, 18 Apr 2022 09:48:47 +0000 https://cryptoupdate.io/?p=4496 Ethereum was activated with the highly controversial hard fork of London. Because of this, the prices also went up & even touched high record in just 24 hours. The greats part of enthusiasm, which is among the entire crypto community. It is a fact that it also held indications for quick Ethereum upgrade. This could […]

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]]> Ethereum was activated with the highly controversial hard fork of London. Because of this, the prices also went up & even touched high record in just 24 hours. The greats part of enthusiasm, which is among the entire crypto community. It is a fact that it also held indications for quick Ethereum upgrade. This could quickly become the biggest one, overtaking Bitcoin! Also, though developers introduce different upgrades on network almost every time. London hard fork is crucial as it consisted of the proposals for Ethereum improvement which is even abbreviated for EIPs. Though, the delay in their upgrade ‘Merge’ will make Ether to lose the market prominence.

Delayed Ethereum upgrade makes investors impatient!

This will impact the market value. When you are keen follower of cryptocurrency market, you will definitely be aware of upcoming Ethereum upgradation. However, ETH 2.0 upgrade also created with the tide of storms investors’ community.  They also excited & worried at same time, about Ethereum investments. Moreover, developers of Ethereum promised for providing the best likely facilities with the modern upgrades in network. Lately, software developers of ETH have announced the much-anticipated upgrade of network. This will possibly completed with some months subsequent to June 2022. Also, the comment assisted to establish the possible timeline. It even created the frenzy amongst investors that are impatient & lose the trust in crypto and developing team.

Analysts & key indicators also have revealed if crypto fails to simply deliver the time. The upgrade also delayed; it unfavorably affects pricing of crypto & market value.

This ‘Merge’ will allow network to simply move from the consensus mechanism, that allow ETH traders and holders to operate validators in performing specific tasks. The Analysts say that upgrade of Ethereum is crucial for ETH investors that they take time to ensure that upgrade should not fail.

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