According to the disclosure of Lookonchain on May 22, Abraxas Capital shorted BTC, ETH and SOL with 10x leverage on Hyperliquid through the addresses 0xB83D and 0x5b5d, which may be a spot position hedging strategy. It currently holds 2,572 BTC (US$288 million), 57,317 ETH (US$151 million) and 504,957 SOL (US$89.4 million) short orders, with a floating loss of more than US$25 million.
Abraxas Capital hedged short BTC, ETH, and SOL on Hyperliquid, with a floating loss of more than $25 million
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