Abraxas Capital is using 2 wallets — 0xB83D and 0x5b5d —to short $BTC, $ETH and $SOL on Hyperliquid with 10x leverage, likely as a hedge against their spot holdings.

They currently hold short positions of 2,572 $BTC($288M), 57,317 $ETH($151M), and 504,957 $SOL($89.4M), with unrealized losses of over $25M.

https://t.co/VaqD3VHA27