Update: Abraxas is still diligently DCAing short orders across the market.
In the past 24 hours, Abraxas has continued to deposit a total of $64M $USDC into 2 wallet addresses that are shorting on Hyperliqid.
Alongside this, the fund has been tirelessly DCAing short orders for $BTC and $SOL from last night until this morning. A total of over $40M $USDC has been used to open these short orders.
Currently, the total short volume is ~$1.1B, and these 2 wallets are down ~$137.4M. However, the funding rate for these 2 wallets has reached $27.7M 🤣
Today, we haven't seen this fund DCA short $ETH, everyone.
Update: Abraxas continues to pump short order volume across all markets.
A few hours ago, 2 short wallet addresses of Abraxas added more short order volume for $ETH at a price of ~$3,760K, and for SOL at a price of $180.
Currently, the total short order volume of the 2 wallets has reached $1.2B with a PnL of ~ -$174M. Aside from the $SUI short, all other orders are currently at a loss.
The liquid price of Abraxas could be the target that many holders are hoping for 🤣
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