'Abraxas Capital' Takes Profit on ETH Short Position, Reduces Position Size to $18.06 Million

BlockBeats reports that on February 2, according to monitoring by Hyperinsight, the 'Abraxas Capital main address' (0x5b5d…) executed a take-profit operation on its ETH short position, reducing 1,348.11 ETH shorts, valued at approximately $3.0076 million. After this operation, the total value of its ETH short position decreased to $18.0584 million. The current floating profit of this position is approximately $7.2781 million, with a return rate of 403.03%. The average entry price is $3,202.42, and the liquidation price is $5,967.56. This address is the primary contract address of the well-known hedge fund Abraxas Capital. Since May, it has established large short positions, once becoming the largest contract whale by fund size on Hyperliquid. Since November, the address has continuously executed take-profit operations, significantly reducing its position size from a peak of $920 million.