Abraxas Capital has executed short sales and reduced its holdings in Ethereum and other cryptocurrencies, with two addresses reportedly making an $18 million profit today. The investment firm’s actions highlight a strategic shift in its cryptocurrency portfolio. By short selling, Abraxas Capital aims to capitalize on anticipated price declines in the market. The firm’s decision to reduce its holdings suggests a cautious outlook amid fluctuating cryptocurrency values. This move has already resulted in substantial profits for two specific addresses, indicating potential market volatility and opportunities for traders.
