Abraxas Capital-Linked Addresses Show $34.98 Million in Zcash Short Gains

A Nov. 11 snapshot showed two Hyperliquid addresses linked to Abraxas Capital had $34.98 million in unrealized profit on Zcash (ZEC) shorts as ZEC fell below $1,000.

Those shorts were part of $118 million in combined unrealized profit across the two addresses’ open positions. The ZEC amount reflects gains on positions that remained open, not profit locked in by closing trades.

A Nov. 8 snapshot of Abraxas Capital’s Hyperliquid positions put their total value at $451.85 million, nearly all short, with $30.77 million in unrealized profit.