According to on-chain analytics platform Lookonchain (@lookonchain), Abraxas Capital again purchased 13,000 ETH (approximately $32.39 million) in spot to hedge its short position of 141,180 ETH (approximately $353 million) on Hyperliquid.
Abraxas Capital purchases 13,000 ETH to hedge its short position on Hyperliquid.
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Summary
Abraxas Capital used on-chain trading signals to purchase 13,000 ETH (approximately $32.39 million) in spot markets to hedge a 141,180 ETH (around $353 million) short position on Hyperliquid, according to Lookonchain data. The move aims to protect capital amid volatile market conditions. On-chain analytics indicate the purchase was made to offset potential losses from the short position.
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