Crypto
Abraxas Capital Takes Bearish Stance with Massive Ethereum Short Position
Abraxas Capital has placed a significant short position on Ethereum (ETH) worth approximately $100.06 million on the Hyperliquid platform, according to blockchain analytics firm Lookonchain.
The firm is hedging this position by withdrawing 73,872 ETH, valued at around $173.17 million, from the Binance exchange over the past four days.
Abraxas also holds short positions in several other major cryptocurrencies, including Bitcoin (BTC), Hyperliquid (HYPE), and Solana (SOL). The total short exposure is approximately $783 million, using 5x leverage.