New Wallet Deposits $9.6 Million USDC to HyperLiquid for 20x CL Crude Futures Long
According to Hyperinsight, Abraxas Capital’s two largest crude oil shorts on Hyperliquid moved to a combined $9.7 million unrealized loss as oil prices rose amid fading ceasefire expectations.
Abraxas Capital’s two largest crude oil short positions on Hyperliquid expanded to a combined unrealized loss of $9.7 million, according to Hyperinsight. The firm’s total short exposure across Brent and WTI reached about $159 million, with average entry prices near $103 for Brent and $98.6 for WTI. Hyperinsight said the losses widened as oil prices climbed on reduced expectations for a ceasefire. This update adds a new attribution and marks a shift from earlier reports focused on a 0x965-linked whale’s repeated liquidations and re-entry into highly leveraged crude positions on Hyperliquid.
- Hyperliquid: A decentralized trading platform that offers onchain perpetual and derivatives-style markets.
- unrealized loss: A paper loss on an open position, reflecting the gap between the entry price and current market price before the trade is closed.
- short positions: Trades that profit if an asset’s price falls and lose money if the price rises.