Abraxas Capital's 2 hedging accounts on Hyperliquid have made $428.56M in total profit!
Lookonchain reports that Abraxas Capital's two hedging accounts on Hyperliquid have booked $428.56M in total profit while still holding $1.05B in short positions. The large short exposure on the venue is a notable signal for HYPE traders, since a squeeze against those positions or further downside could move the token sharply.