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Abraxas Capital buys 13,000 ETH to hedge Hyperliquid short

  • Abraxas Capital bought 13,000 ETH in the spot market.
  • 13,000 ETH was worth about $32.39 million at the time.
  • The purchase hedged a 141,180-ETH short position on Hyperliquid.

Abraxas Capital again bought 13,000 ETH in the spot market, worth about $32.39 million, to hedge its 141,180-ETH short position on Hyperliquid. The short position was valued at about $353 million, according to monitoring by blockchain analytics firm Lookonchain.

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