Data: Abraxas Capital bought half of the funds in HYPE spot, with a position reaching 56 million USD

According to HyperInsight monitoring, two addresses marked as Abraxas Capital (0x5b5, 0xb83) transferred approximately $62 million to Hyperliquid to increase their HYPE spot holdings and hedged defensively with a 5x leveraged HYPE short position.

Due to today's market decline, the current HYPE spot position is approximately $56.4 million, accounting for about half of the total account funds across the two addresses on Hyperliquid. Additionally, monitoring shows that since November, the institution has been continuously closing short positions to take profits on multiple cryptocurrencies, with the total position size decreasing from $760 million on November 3 to $146 million, and there have been successive withdrawals to on-chain wallets. Before closing, it was the address with the largest position size on Hyperliquid.

Currently, its main short positions are: ETH position size of $82.02 million, with an unrealized profit of $19.97 million (245%); HYPE position size of $62.39 million, with an unrealized profit of $22.59 million (220%).