Abraxas Capital increased short positions on Hyperliquid, adding 3M USDC collateral for ~$23.3M BTC and ~$35M ETH shorts.
DeFi & Yields ·
Abraxas Capital added 3 million USDC to its Hyperliquid account, deploying the collateral to expand both its Bitcoin and Ethereum short positions. The firm increased its BTC short to 364.9 coins—valued at approximately $23.3 million—while simultaneously raising its ETH short to 19.02 thousand tokens worth roughly $35.08 million, according to onchain monitoring.
The moves reflect a sustained bearish stance on both major cryptocurrencies. Abraxas Capital's lifetime realized profit stands at $174.6 million, indicating a track record of successful directional bets on the platform.
The timing and scale of the collateral injection remain unclear—specifically whether this represents a routine rebalance or a response to market conditions. No public commentary from Abraxas Capital has been documented explaining the rationale behind expanding these particular positions at this moment.