Abraxas Capital has increased its short position in gold to $30.1 million on the Hyperliquid platform, according to HyperInsight monitoring. This move comes as spot gold prices exceeded $4,700, making Abraxas the largest on-chain gold short seller. Over the past month, the firm has raised its average holding price from $4,786 to $5,281, with a liquidation price set at $6,989. The current unrealized profit stands at approximately $680,000. In the last three days, Abraxas Capital deposited $7.5 million to further expand its short position, and it partially took profits within the last two hours. Additionally, the firm holds around $6.85 million in XAUT (Tether Gold) spot on-chain. Previously, Abraxas was the largest contract whale on Hyperliquid, but since November, it has reduced its total holdings from $920 million to about $40 million.
Abraxas Capital Expands Gold Short Position to $30.1 Million on Hyperliquid
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