「Abraxas Capital」 has closed approximately $240 million worth of ETH short positions, marking a 90% decrease in the size of this short position compared to the previous period.

BlockBeats News, December 17th, according to HyperInsight monitoring, it was reported that an address recently identified as Abraxas Capital (0x5b5) has been continuously closing ETH short positions. In the past 20 hours, this address has been continuously closing approximately $9.7 million worth of ETH shorts at $2,932. The position size has decreased from $51.57 million last week to $26.54 million, with an average entry price of $3,471, an unrealized profit of $4.69 million (176%), and this short position has realized a profit of $13.74 million through funding rate settlements.

According to the monitoring, Abraxas Capital's ETH short positions were opened in May and the address was previously the largest whale in Hyperliquid's contract funding pool. Starting from November, the address has been consistently taking profits on its ETH short positions. The position size was approximately $267 million, and it has currently closed about $240 million, part of which has been used to increase its spot HYPE holdings. The current HYPE spot holdings amount to around $47.5 million.