Abraxas Capital withdraws 13,500 ETH from Aave worth about $26 million
The fund converted 6,000 AETHWETH and 7,500 AETHWETH into native ETH and also received 1,790 ETH from Binance, lifting the total ETH involved to about $29.4 million.
ETH
AAVE
Summary
Abraxas Capital withdrew 13,500 ETH from Aave in a transaction worth about $26 million, according to activity flagged by Onchain Lens and cited by Odaily. The fund converted 6,000 AETHWETH and 7,500 AETHWETH into native ETH, then received a further 1,790 ETH from Binance, bringing the total value of the ETH involved to about $29.4 million. Aave is a DeFi lending protocol where users deposit assets or borrow against collateral, and large withdrawals are often watched as potential signs of portfolio repositioning, liquidity management, or collateral adjustments.
Terms & Concepts
- Aave: A DeFi lending protocol that lets users supply crypto assets or borrow against collateral.
- AETHWETH: A tokenized position representing wrapped ether in Aave that can be converted into native ETH.
- ETH: The native token of the Ethereum network.