Abraxas Capital has accumulated profits of over $512 million on Hyperliquid and reduced its short positions.

Abraxas Capital's two hedge accounts on Hyperliquid have accumulated profits of over $512 million, reducing their combined short positions to $572 million. The main address has accumulated profits of $301.25 million, with unrealized profits of $69.38 million; the hedging address has accumulated profits of $219.43 million, with unrealized profits of $61.16 million; the two accounts have a combined unrealized profit of approximately $131 million, with current total leverage of 3.91x and 3.60x respectively. Abraxas Capital, a London-based asset management firm, previously held short positions exceeding $1.45 billion, but its current short positions have decreased by approximately 60.6%.