Abraxas Capital has reduced its short position in ETH and other cryptocurrencies, with two addresses today realizing a profit of 18 million dollars

ChainCatcher message, according to HyperInsight monitoring, in the past half hour, two addresses marked as Abraxas Capital (0x5b5, 0x83) have reduced their ETH short positions by over 1,870 coins, with the position value decreasing by approximately 7.5 million dollars.

Meanwhile, XPL shorts and PUMP shorts are also continuously reducing their positions. Additionally, monitoring shows that the total holdings of Abraxas Capital's two addresses are approximately 760 million dollars, with realized profits exceeding 245 million dollars in the past 7 days, and there is still about 25 million dollars in unrealized gains. The main short position composition includes: BTC approximately 260 million dollars, ETH approximately 290 million dollars, and HYPE approximately 85 million dollars.

It is worth noting that although both addresses adopt a fully short strategy, there are differences in specific preferences: the main address heavily bets on mainstream coins to express a bearish outlook on the overall market; while the sub-address amplifies potential gains through a diversified altcoin portfolio. Among a total of 24 positions, currently only the ETH short of the main address is still in a loss state.