'Abraxas Capital' Takes Profit on HYPE Short Position, Reduces Position Size to $6.79 Million

BlockBeats News, February 3, according to Hyperinsight monitoring, the 'Abraxas Capital main address' (0x5b5d…) executed a take-profit operation on its HYPE short position, reducing its holdings by 62,511.35 HYPE, approximately $2.14 million. After this operation, the total value of its HYPE short position decreased to $6.79 million. The current unrealized profit of this position is approximately $1.64 million, with an average holding price of $42. This address is the primary contract address of the well-known hedge fund Abraxas Capital. Since May, it has established large short positions and was once the largest contract whale on Hyperliquid in terms of capital size. Since November, this address has been continuously taking profits, with its position size significantly reduced from a peak of $920 million.