"Abraxas Capital" continues to increase its gold short positions, with a total position size of $30.10 million.

BlockBeats News, March 4 — According to HyperInsight monitoring, Abraxas Capital’s sub-address (0xb83) on the Hyperliquid platform has been increasing its short positions on xyz:GOLD (gold mapping contract) since the spot gold price broke above $4,700. As of now, its gold short position has reached $30.1 million.

This address has gradually increased its holdings over the past month, with an average entry price rising from $4,786 to $5,281, and a liquidation price of $6,989. Its current unrealized profit is approximately $680,000. In the past three days, the address deposited an additional $7.5 million to further expand its short positions. Early this morning, it significantly increased its holdings again, and within the last two hours, some profits were taken off the table.

It is noteworthy that this address also holds about $6.85 million worth of XAUT (Tether Gold) on-chain, representing a cross-market allocation between spot and contracts.

Abraxas Capital was once the largest contract whale on the Hyperliquid platform. Since November last year, it has been continuously taking profits and reducing its position, with its total holdings shrinking sharply from a peak of $920 million to approximately $40 million today.