ChainCatcher report: Abraxas Capital is going long on Bitcoin dominance on the Hyperliquid platform using two wallets. Wallet 1 (0x5b5d51): Long $10.5 million in BTC at 10x leverage; simultaneously shorting HYPE, FARTCOIN, XRP, SOL, and ETH. Wallet 2 (0xb83de0): Shorting $4.56 million in HYPE at $42.80 per token, with a current unrealized profit of $304,000; also shorting xyz:GOLD and xyz:CL. Combined, the two wallets have shorted a total of $8.8 million in HYPE, generating an unrealized profit of $388,000. Abraxas Capital has accumulated a total profit of $179 million on Hyperliquid.
Abraxas Capital holds a $10.5M BTC long and an $8.8M HYPE short on Hyperliquid.
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Summary
Abraxas Capital is holding a $10.5M BTC long and an $8.8M HYPE short on Hyperliquid, using two wallets with 10x and 5x leverage, respectively. The positions currently show a $388K floating profit, contributing to a total profit of $179M. The firm appears to be closely monitoring support and resistance levels, balancing risk while prioritizing capital preservation.
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