"Abraxas Capital" continues to increase its gold short positions, with a total position size of $30.10 million.

GateUser-6433627c · 2026-03-04T04:31:54+00:00

Abraxas Capital continues to short on the Hyperliquid platform's gold mapping contract xyz:GOLD, currently holding a position of $30.1 million, making it the largest on-chain gold short. Recently increased the position to $5,281,000, with an unrealized profit of approximately $680,000, and deposited $7.5 million to expand the short position. At the same time, it holds $6.85 million in Tether Gold spot. Since November last year, its total holdings have shrunk from $920 million to about $40 million.

GateUser-6433627c

2026-03-04 04:31:54

Abstract generation in progress

On March 4th, according to HyperInsight monitoring, Abraxas Capital’s sub-address (0xb83) on the Hyperliquid platform has been continuously increasing its short position on xyz:GOLD (gold mapping contract) after the spot gold price broke above $4,700. As of now, its gold short position has reached $30.1 million, making it the largest on-chain gold short. The address has gradually increased its holdings over the past month, with an average entry price rising from $4,786 to $5,281, and a liquidation price of $6,989. Its current unrealized profit is approximately $680,000. In the past three days, the address has deposited an additional $7.5 million to further expand its short position. Early this morning, it increased its holdings significantly again, and within the last two hours, the address partially took profits. Notably, the address also holds about $6.85 million in XAUT (Tether Gold) on-chain, indicating a cross-market allocation between spot and futures. Abraxas Capital was once the largest contract whale on the Hyperliquid platform, continuously taking profits and reducing positions since November last year. Its total holdings have sharply decreased from a peak of $920 million to approximately $40 million currently.

XAUT-0,41%

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