Abraxas Capital Shorts BTC, ETH, and SOL with 10x Leverage on Hyperliquid, Secures $112M Floating Profit

Abraxas Capital has strategically deployed two wallets on the Hyperliquid platform, utilizing 10x leverage to short prominent cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), and Solana (SOL). This move functions as a sophisticated hedge against their existing spot holdings, reflecting a calculated risk management approach. According to data from LookIntoChain, the firm’s current floating profit from these leveraged positions has surpassed $112 million, underscoring the effectiveness of their hedging strategy in volatile market conditions. This development highlights the growing trend of institutional players leveraging derivatives to optimize portfolio resilience within the crypto asset class.

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