According to ChainCatcher, HyperInsight monitoring shows that the address identified as Abraxas Capital (0x5b5) has been continuously adding to its short positions in ETH at $3,107. It has accumulated approximately 566 ETH (about $1.75 million), expanding its holdings to $382 million, with an average price of $3,248 and a liquidation price of $119,000. In addition, it also holds approximately $316.4 million in short positions in HYPE, with a floating profit of $22.9 million. This address's short positions have accumulated a profit of $392.6 million through funding rate settlement.
According to further monitoring, Abraxas Capital began establishing its ETH short positions in May, and was previously a whale with the largest contract size on Hyperliquid. Starting in November, this address continuously took profits on its ETH short positions, with its holdings previously around $2.67 billion, and has now closed out nearly $2.4 billion in total.
