「Abraxas Capital」 takes profit on part of its HYPE short position, reducing its position size to $6.79 million

BlockBeats News, February 3rd, according to Hyperinsight monitoring, the "Abraxas Capital Main Address" (0x5b5d…) executed a take-profit operation on its HYPE short position, selling 62,511.35 HYPE, equivalent to approximately 2.14 million US dollars.

After this operation, the total value of its HYPE short position dropped to 6.79 million US dollars. The position is currently unrealized profit of about 1.64 million US dollars, with an average holding price of $42.

This address is the main contract address of the renowned hedge fund Abraxas Capital, which has been building up a large short position since May and was once the largest contract whale on Hyperliquid in terms of fund size. Since November, the address has been continuously taking profit, and its position has been significantly reduced from a peak of 920 million US dollars.