Abraxas Capital’s ZEC short shows $35M in unrealized profit

Crypto investment firm Abraxas Capital is sitting on about $34.98 million in unrealized profit from a ZEC short position on Hyperliquid, EmberCN reported. The gain appears to have widened as ZEC plunged below $1,000 today. Across all open positions tied to two addresses believed to be held by Abraxas Capital, total unrealized profit stands at $118 million.