What's going on onchain?

OMG!!

Abraxas Capital is loosing down over $190M after shorting $ETH, $BTC, $SOL, $HYPE and $SUI.

When the market is in full bull mode, shorting is too much risky and that’s exactly what happened here.

They were trying to catch the exact top might sound smart, but in crypto, riding the trend usually pays a lot more than fighting it.

Patience pays off but only if you are going according to trend.