Abraxas Capital Seeks to Offset $353M ETH Short with $32M Buy
Abraxas Capital has reportedly hedged its $353 million Ethereum (ETH) short position by purchasing $32 million worth of ETH.
The move is seen as a significant strategy to mitigate potential losses in case the price of ETH were to rise.
No explanation was provided for why Abraxas Capital took on this large short position or what led them to hedge it with such a substantial buy order.