According to Lookonchain, Abraxas Capital increased its spot ETH holdings by 16,554 ETH (~$39.8 million) in the past 12 hours. Concurrently, the firm's two hedging accounts on Hyperliquid hold a short position of 120,178 ETH (~$291.4 million). The short position is about 7.3 times the value of the spot purchase.
Per on-chain tracker Lookonchain, Abraxas Capital picked up 16,554 ETH for its spot holdings in the last 12 hours, a buy worth about $39.8 million. But at the same time, the firm's two hedging accounts on Hyperliquid together are sitting on a 120,178 ETH short position, valued near $291.4 million. Big gap. That short is about 7.3 times larger than the spot addition.
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