Caraxes the Blood Wyrm was a long, lean, scarlet dragon, ridden first by Prince Aemon Targaryen, the heir of Jaehaerys I, and after Aemon's death by his nephew Prince Daemon. Daemon and Caraxes carved out a brief kingdom for themselves in the Stepstones, where the Blood Wyrm earned his name putting Triarchy fleets to flame.
When the Dance of the Dragons came in 129 AC, Daemon took up the cause of his wife Queen Rhaenyra against Aegon II and his Hightower kin. In 130 AC, above the Gods Eye, Caraxes met the great Vhagar in single combat. Caraxes drove Vhagar from the air; the two dragons fell entwined into the lake below, and Daemon, leaping from the saddle at the last, drove Dark Sister through Aemond's eye as both princes fell. None of the four, princes or dragons, were ever seen alive again.