According to @lookonchain, Abraxas Capital operates two accounts shorting ETH, BTC, SOL, HYPE, and SUI as a hedge against spot holdings. source: Lookonchain on X, Aug 10, 2025 According to @lookonchain, the combined unrealized loss on these hedge shorts exceeds $190M. source: Lookonchain on X, Aug 10, 2025 According to @lookonchain, the accounts hold 113,819 ETH in short positions worth about $483M, with the ETH short leg down more than $144M. source: Lookonchain on X, Aug 10, 2025; source: hyperdash.info trader dashboard According to @lookonchain, the position and PnL figures are drawn from the hyperdash.info trader dashboard referenced in the post. source: Lookonchain on X, Aug 10, 2025; source: hyperdash.info trader dashboard According to @lookonchain, traders can track these Abraxas-linked accounts on hyperdash.info to monitor changes in short size across BTC, ETH, SOL, HYPE, and SUI for execution and order-flow awareness. source: Lookonchain on X, Aug 10, 2025; source: hyperdash.info trader dashboard

According to Lookonchain, two Abraxas Capital accounts are shorting ETH, BTC, SOL, HYPE, and SUI with aggregate unrealized losses exceeding $190M as of August 10, 2025 (source: Lookonchain). Lookonchain reports the positions include 113,819 ETH shorts with approximately $483M notional, showing more than $144M in unrealized losses, making ETH the largest loss contributor in the basket (source: Lookonchain). Lookonchain did not disclose the trading venues, leverage, or liquidation levels for these shorts, indicating the figures reflect mark-to-market unrealized PnL rather than realized PnL (source: Lookonchain).