Internet reports that as of 01:10 am today, London asset management company Abraxas Capital purchased nearly US$500 million worth of Ethereum in less than a week. At 01:10 a.m., Lookonchain posted on the X platform: "In the past 12 hours, Abraxas Capital has purchased another 33,482 ETH units (worth US$84.7 million), bringing its total purchases in the past six days to 211,030 ETH units (worth US$477.6 million)." Yesterday, Abraxas Capital first borrowed 240 million USDTs from Aave and then deposited them in Binance. Min Jung, an analyst at Presto Research, pointed out that the ETH/BTC exchange rate fell nearly 40% to 0.02 during the year, and the current price has attracted buying intervention. Nick Ruck, research director of LVRG, believes that the Pectra upgrade and macro positive results will jointly drive market sentiment to turn positive. "As altcoins move away from a downward trend, investors are reassessing the value of cryptocurrencies as hedging tools," he said.