EmberCN's Nov. 11 monitoring tracked $118 million in unrealized profit across open positions at two Hyperliquid addresses it linked to Abraxas Capital, including $34.98 million from Zcash (ZEC) shorts.
ZEC had fallen below $1,000. The figure covered unrealized profit across open positions, rather than the addresses' total position value. The reported amount was unrealized profit on open positions, not a realized return.
A Nov. 8 reading from OnchainLens put one Abraxas-linked address at $30.77 million in unrealized profit. Short positions represented $451.68 million of the address's $451.85 million in total open-position value. That snapshot covered one address; EmberCN's Nov. 11 figure combined two.
EconoTimes' earlier reporting on the Abraxas-linked accounts' use of short positions as a hedge is available in its coverage of their hedging strategy and funding payments, which noted that they paired crypto holdings with Hyperliquid shorts and had received more than $66 million in funding payments on Hyperliquid.
