Since building the position in May, the scale has been cut step by step—from a 920 million level down to around a million—this profit-taking cadence is textbook-level.

CoinWorld News, Abraxas Capital's main address recently reduced its short position in SOL by 4,377.77 tokens, approximately $259,999.48. The address's holdings amount to $1,094,566.49, with an average price of $86.01, currently showing a profit and loss of +$366,998.38 (+335.29%), with the current token price at $64.41 and a liquidation price of $880.65. This address has been building a position since May, once being the largest whale in HyperLiquid's contract fund size, continuously taking profits since November, with holdings once reaching $920 million.