Abraxas Capital-Linked Wallets Build $50 Million Brent Oil Shorts on Hyperliquid
Abraxas Capital-linked wallets expanded two on-chain Brent crude short positions to more than $92 million on Hyperliquid, with average entry near $103 and combined unrealized profit of about $2.6 million as of 4 a.m. today.
The claim is accurately reflected in multiple independent news reports (PANews, Binance Square, Bitget) citing on-chain data from HyperInsight. The specific metrics—$92 million total position, $103 average entry, and $2.6 million unrealized profit—are explicitly confirmed by the PANews article titled '“Abraxas Capital”原油空单已增持至9200万美元，浮盈260万美元' published on March 27, 2026.
Abraxas Capital-linked wallets increased two on-chain Brent crude short positions by nearly $26 million, taking combined BRENTOIL exposure on Hyperliquid to more than $92 million. The two top addresses now hold the positions at an average entry price near $103, with an average liquidation price of $137. As of around 4 a.m. today, the positions showed a combined $2.6 million unrealized profit. The update adds to earlier reports that the linked wallets had already expanded their Brent oil shorts to $66.4 million.
- Liquidation: The forced closure of a leveraged position when losses approach the collateral threshold set by the trading platform.
- Floating profit: The current unrealized gain on an open position, which changes as market prices move before the trade is closed.
- Hyperliquid: A decentralized perpetual trading platform where users can take leveraged long or short positions on assets on-chain.