1 Bitcoin Whale devotee opens $3.53 million short position on CXMT

BlockBeats News, July 27th, according to Hyperinsight Monitoring, in the past three months, trading activities were concentrated on the BTC whale address 0x004e. Today, the whale made its first move outside the cryptocurrency market, shifting its focus to Changxin Technology (CXMT).

The whale began to gradually open CXMT short positions at noon. As of the time of writing, it holds 500,000 CXMT short positions with 2x leverage, with a position value of approximately $3.533 million and an average entry price of $7.47.

As CXMT dropped to $7.0669, the short positions are currently up by approximately $204,900, with a return rate of about 10.96%. The liquidation price is $13.58. The address has allocated approximately $3.599 million as margin for the position with 2x leverage, and there are currently no outstanding orders.

Data shows that CXMT is currently trading at $7.06 on Hyperliquid, with a 24-hour gain of 15.7%, equivalent to about ¥48.01 when converted at the USD/CNY rate of 6.7939.

Historical trading records indicate that the whale has only traded BTC in the past three months. This is its recent first foray into stock contracts. It still holds a 40x leveraged short position on BTC worth $6.6 million.