Abraxas Capital Expands Hyperliquid Short Positions to $760M Notional Value

Two addresses linked to Abraxas Capital (0x5b5, 0xb83) grew their combined account value from $165M to $256M over the past week on Hyperliquid, with total notional position value expanding from $480M to $760M, HyperInsight data show on November 3. The entity increased short positions across multiple assets over the past 24 hours, with ETH shorts rising from $226M to $267M, BTC shorts from $124M to $280M, and HYPE shorts from $97.4M to $103M. Combined unrealized profit across the two addresses reached $50.2M, though the primary address (0x5b5) holds an underwater ETH short position with an average entry price of $3,531 and an unrealized loss of $12.57M (approximately 54%).