Abraxas Capital bought another 13,700 ETH in spot trading today, worth $34.24 million, while its short position on Hyperliquid approached $1 billion. The reported exposure includes a short position on 178,532 ETH valued at $437 million, according to blockchain-monitoring firm Lookonchain. The update identified the activity through the addresses 0xb83...6e36 and 0x5b5...C060.