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🚨 Abraxas Capital is shorting the market
Has built a short position of approximately $783 million on Hyperliquid.
Meanwhile, over the past 4 days, it withdrew 73,872 ETH from Binance (about $173 million) and used spot purchases to hedge extensively.
While placing large short bets, it’s also withdrawing funds to buy spot—on-chain activity is worth monitoring.
#ETH #Hyperliquid #on-chain data
🚨 Abraxas Capital is shorting the market
Has built a short position of approximately $783 million on Hyperliquid.
Meanwhile, over the past 4 days, it withdrew 73,872 ETH from Binance (about $173 million) and used spot purchases to hedge extensively.
While placing large short bets, it’s also withdrawing funds to buy spot—on-chain activity is worth monitoring.
#ETH #Hyperliquid #on-chain data