「Abraxas Capital」 continues to add to its gold short position, with a total position size of $30.1 million

BlockBeats News, March 4th, according to HyperInsight monitoring, Abraxas Capital's sub-address (0xb83) on the Hyperliquid platform has been continuously adding to its short position on xyz:GOLD (gold synthetic asset) since spot gold broke through $4700. Currently, its gold short position has reached $30.1 million, making it the largest on-chain gold bear.

This address has been gradually increasing its holdings in the past month, with an average position price raised from $4786 to $5281, a liquidation price of $6989, and a current unrealized profit of about $680,000. Over the past three days, the address has deposited an additional $7.5 million to further expand its short position. Early this morning, it significantly increased its holdings again, but has taken some profits in the last 2 hours.

It is worth noting that this address also holds about $6.85 million worth of XAUT (Tether Gold) spot on-chain, demonstrating a cross-market allocation between spot and derivatives.

Abraxas Capital was once the largest contract whale on the Hyperliquid platform, continuously taking profits and reducing positions since November last year. Its total position size has plummeted from a peak of $920 million to the current approximately $40 million. It currently holds over $2.3 billion worth of BTC spot on-chain.