Abraxas Capital Management has executed significant short sales in the cryptocurrency market, taking positions worth over $500 million. The main focus is on Bitcoin and Ethereum.
Major Short Positions of Abraxas Capital
Abraxas Capital holds the largest short position in Bitcoin (BTC) at $224 million, followed by short positions in Ethereum (ETH) amounting to $163 million. They have also shorted $57 million in Hyperliquid (HYPE), $44 million in Solana (SOL), and $560,000 in Sui (SUI).
Current Market Movements in Cryptocurrencies
Over the past 24 hours, the cryptocurrency market has shown mixed results. Bitcoin (BTC) rose by 0.73% to $104,552.33, while Ethereum (ETH) gained 1.34% to $2,504.29. Conversely, Solana (SOL) decreased by 1.20%, trading at $144.87, and Hyperliquid (HYPE) slipped 0.54% to $38.59. Sui (SUI) experienced the largest drop, falling 2.09% to $2.
Ethereum Accumulation History and Current Assets
Earlier, between May 7 and May 20, Abraxas conducted a major Ethereum (ETH) accumulation spree, purchasing over $837 million worth of ETH. At that time, the firm's total crypto holdings exceeded $959 million, but the current total has dropped to $513 million after these recent actions.
In conclusion, Abraxas Capital shows active engagement in the cryptocurrency market by taking short positions and managing significant amounts of digital assets.
