Abraxas Capital has increased its short position in the gold mapping contract xyz:GOLD to $9.18 million, according to HyperInsight Monitoring. The firm's main address (0x5b5) added to its position at a spot gold price of approximately $4,867, with an average entry price of $4,786 and a liquidation threshold of $6,785. Additionally, a sub-address (0xb83) holds leveraged short positions with an average price of $4,887. Previously recognized as the largest contract whale on Hyperliquid, Abraxas Capital has been actively reducing its exposure since November. The firm's total position size has decreased from a peak of $920 million to approximately $60 million, reflecting ongoing profit-taking strategies.