According to Odaily Planet Daily, two Abraxas Capital accounts currently hold short positions in ETH, BTC, SOL, HYPE, and SUI, with a total floating loss exceeding $190 million. Of this, 113,819 ETH short positions (valued at $483 million) have incurred losses exceeding $144 million. However, analysts suggest these short positions may have been used for spot hedging, which generated significant floating profits during market downturns, resulting in cumulative funding fee income exceeding $28 million.