"Abraxas Capital" takes profit on HYPE short positions, reducing the position size to $6.79 million

BlockBeats News, February 3rd, according to Hyperinsight monitoring, “Abraxas Capital main address” (0x5b5d…) executed a take-profit operation on its HYPE short position, reducing 62,511.35 HYPE tokens, approximately $2.14 million.

After this operation, the total value of its HYPE short position decreased to $6.79 million. The current floating profit is about $1.64 million, with an average entry price of $42.

This address is the main contract address of the well-known hedge fund Abraxas Capital. Since May, it has established large short positions and was once the largest contract whale on Hyperliquid. Since November, this address has continuously taken profits, and its position size has been significantly reduced from a peak of $920 million.