Abraxas Capital returns to Hyperliquid to open large short positions

On March 30, MLM analysis indicated that after reducing its holdings, Abraxas Capital returned to Hyperliquid and established large short positions through two accounts, possibly as part of the Elysium Global Arbitrage Fund, continuing its arbitrage strategy style. Previously, Abraxas Capital had shorted approximately 32.7 million USD of WTI crude oil, 102.8 million USD of Brent crude oil, and 33.2 million USD of gold, accounting for about 10.8%, 21.4%, and 18.4% respectively of the open interest on the Hyperliquid platform.