ChainCatcher said Lookonchain monitored Abraxas Capital (0xB83...E36 and 0x5b5...060) building an estimated $783 million short position on Hyperliquid while hedging with heavy spot purchases. Over the past four days, the firm also withdrew 73,872 ETH from Binance, worth about $173 million. The update did not include any further details on the trading strategy or the positions beyond those figures.
ChainCatcher reported, citing Lookonchain monitoring, that Abraxas Capital (0xB83...E36 and 0x5b5...060) has opened an estimated $783 million short position on Hyperliquid while hedging the trade with large spot purchases.
Lookonchain also said Abraxas Capital withdrew 73,872 ETH from Binance over the past four days. The ETH was worth about $173 million.
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