According to CoinMeta, the Abraxas Capital main address recently reduced its gold short position by 290.88 lots, equivalent to approximately $1.3 million. The current holding size is $39.36 million, with an average price of $4,189.84 per lot, and the current profit and loss is -$3.35 million, resulting in a loss rate of -34.12%. The liquidation price for this address is $14,603.15. Abraxas Capital has been building a large short position since May; previously, it was the whale with the largest contract funding scale for HyperLiquid. Starting from November, it began to take profits continuously, and the holding size once reached $920 million.