Abraxas Capital-linked addresses continue to reduce ETH leverage, with long exposure at approximately $350 million.

October 9th, according to Arkham monitoring, the address associated with Abraxas Capital recently increased ETH collateral and reduced borrowing leverage. Last night, the address moved 20,000 ETH from Aave to Spark, then repaid approximately $55 million USDS; today, it borrowed another $10 million USDS, a net reduction of approximately $45 million.

Over the past week, the address has net increased deposits by 57,000 ETH on Spark, of which 50,000 ETH were migrated from Aave. During the same period, it cumulatively borrowed $93.38 million USDS and repaid approximately $93 million USDS, with the borrowing scale remaining roughly flat, but the health factor rose from 1.59 to 2.42.

As of press time, the address holds approximately 140,800 WETH deposits on Spark, with collateral value of approximately $350 million, total debt of approximately $124 million, corresponding to a borrowing leverage of approximately 1.55x. Based on current collateral and debt calculations, liquidation may be triggered if the ETH price falls to approximately $1,028.

Address: 0xed0c6079229e2d407672a117c22b62064f4a4312