Abraxas Capital reduces its HYPE short position to $6.79 million

On February 3rd, according to Hyperinsight monitoring, Abraxas Capital's main address (0x5b5d...) reduced its holdings of 62511.35 HYPEs, approximately $2.14 million, and executed a take profit operation. After this operation, the total value of HYPE's short positions decreased to 6.79 million US dollars, with a current floating profit of approximately 1.64 million US dollars and an average position price of 42 US dollars. This address has established large short positions since May and was once the largest contract whale on Hyperliquid in terms of funding. Since November, it has continued to take profits and its position size has significantly reduced from its peak of $920 million.