OnchainLens said the firm deposited 3 million USDC on Hyperliquid and expanded BTC and ETH short positions to roughly $110.7 million, though the data does not show entry levels or whether the trades are bearish bets or hedges.
Abraxas Capital increased its Bitcoin and Ethereum short exposure to about $110.7 million, according to on-chain tracking cited by OnchainLens on July 20. The firm reportedly deposited 3 million USDC and expanded its positions on Hyperliquid to roughly 796.4 BTC worth about $51.5 million and 31,640 ETH worth about $59.2 million, up from two days earlier. The activity extends a pattern in which Abraxas has drawn attention for large crypto short bets, but the available data does not indicate entry levels, timing beyond the reported increase, or whether the positions reflect a directional bearish view or a hedge against other holdings.