ChainCatcher report, according to Hyperinsight monitoring, the combined unrealized losses of the two addresses belonging to Abraxas Capital, the largest oil position on Hyperliquid, have expanded to $9.7 million. These addresses continuously increased their short positions at low levels last night and early this morning. The combined size of crude oil positions for Brent and WTI has now reached $159 million, comprising: - 5x BRENTOIL short positions: $102 million in size, average price of approximately $103; - 5x WTIOIL short positions: $56.99 million in size, average price of approximately $98.60.
Abraxas Capital's on-chain crude oil short positions incur a $9.7 million loss
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Summary
On-chain data shows that Abraxas Capital’s crude oil short positions on Hyperliquid have incurred $9.7 million in unrealized losses. Two linked addresses aggressively rolled their short positions to lower levels overnight, bringing total crude oil exposure to $159 million. On-chain analysis reveals $102 million in 5x BRENTOIL short positions at an average price of $103, and $56.99 million in 5x WTIOIL short positions at $98.6.
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