Abraxas Capital Liquidates Profit Taking Across Multiple Assets, Realizing Nearly $200 Million in One Day

On October 11th, as per the monitoring of HyperInsight, within the past 6 hours, the address identified as Abraxas Capital (0x5b5d) has been actively engaging in shorting positions on ETH, XPL, PUMP, Aster, and other cryptocurrencies. The total current position amounts to approximately $740 million. Its sub-address (0xb83), following the lead of the main address, has also been continuously reducing its short positions on Aster and SOL in the past hour, with a total current position of around $330 million. Based on the monitoring, both addresses of Abraxas Capital are fully short. They rank second and third on the weekly profit list within a day. The two addresses have collectively gained $197 million today and still hold approximately $84 million in unrealized profits. It is worth noting that several whales have closed their short positions to make a profit today. BlockBeats advises investors to be cautious as the recent cryptocurrency market has witnessed significant volatility, highlighting the importance of risk management.