Abraxas Capital Buys 13,700 ETH While Holding Nearly $1 Billion in Short Positions

Abraxas Capital bought 13,700 ETH in the spot market today, according to Lookonchain monitoring. According to BlockBeats On-chain Detection, the purchase was valued at about $34.24 million. At the same time, its short positions on Hyperliquid are currently close to $1 billion. The firm’s ETH short position stands at 178,500 ETH, valued at about $437 million.