Abraxas Capital buys half of its funds into HYPE spot, holding a position of $56 million

According to HyperInsight monitoring, marked Abraxas Capital two addresses (0x5b5, 0xb83) yesterday to Hyperliquid into about $62 million and used to increase HYPE spot holdings, and held 5 times leverage HYPE short order hedge defense. Affected by today's market decline, the current HYPE spot holdings of about $56.40 million, accounting for about half of the total account funds of the two addresses on Hyperliquid.
According to the monitoring, since November, the institution has continued to close and take profit multi-currency short orders. Compared with November 3, the total position size has been reduced from 760 million US dollars to 146 million US dollars, and there have been withdrawals to the chain wallet. Before position squaring, it was the largest address on Hyperliquid. At present, its main short positions are: ETH position size 82.02 million US dollars, floating profit 19.97 million US dollars (245%); HYPE position size 62.39 million US dollars, floating profit 22.59 million US dollars (220%).