Analysis Firm Claims: Massive Cryptocurrency Fund Company May Be Shorting This Altcoin
Cryptocurrency analysis platform Arkham has made a remarkable claim: Abraxas Capital Management may be shorting the HYPE token that has attracted attention recently.
Based on on-chain data, Arkham discovered that an account that made a $17 million HYPE sale had transferred funds to a Binance wallet that Abraxas Capital had previously deposited funds into.
Arkham also shared details of Abraxas Capital’s known funds. The firm’s significant holdings across different protocols include:
- 44,057K WSTETH ($133.28 million)
- 37K AWSTETH ($111.87 million)
- 32,882K AWETH ($82.47 million)
- 677.51 LBTC ($70.65 million)
- 19,184K WEETH ($51.5 million)
- 2,557K STETH ($6.42 million)
- 5M AUSDC ($5 million)
- 482,216 EZETH ($1.27 million)
The company has a total of $462 million worth of cryptocurrencies. These, of course, belong to the company's well-known cryptocurrency wallets. With this amount, Abraxas Capital has become one of the biggest whales in the cryptocurrency market.
*This is not investment advice.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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