Abraxas Capital opened a nearly $14 million short position in crude oil on Hyperliquid with 10x leverage.

CoinFeed reported on March 17th that, according to Lookonchain, hedge fund Abraxas Capital recently shorted crude oil on the Hyperliquid platform, opening 146,601 xyz:CL contracts with 10x leverage in the past 13 hours, with a notional size of approximately $13.98 million. On-chain data shows that its associated address 0x5b5d has accumulated profits of approximately $166 million on Hyperliquid.