Abraxas Capital has reduced its ETH and other currencies holdings, with two addresses already making a profit of $18.00 million today.

On October 16, according to HyperInsight monitoring, in the past half hour, the $ETH short positions of two addresses (0x5b5, 0x83) marked as Abraxas Capital have been reduced by more than 1870, and the value of the positions has been reduced by approximately $7.50M. At the same time, $XPL shorts and PUMP shorts are also continuing to reduce their positions.

According to monitoring, Abraxas Capital's two addresses have a total position of approximately $760.00M, and have realized profits of more than $245.00M in the past 7 days, and currently still have approximately $25.00M in floating profits. Its main short positions are: $BTC approximately $260.00M, $ETH approximately $290.00M, and $HYPE approximately $85.00M.

It is worth noting that although both addresses adopt a full short strategy, there are differences in specific preferences: the main address focuses on betting on mainstream currencies to express a bearish expectation for the overall market; while the sub-address amplifies potential returns through a diversified altcoin portfolio. Of the total 24 positions, only the main address's $ETH short position is still in a loss.