One Bitcoin-Focused Whale Builds First Cross-Asset Position in CXMT, Opening $3.53 Million Short Position
TechFlow reports, July 27, according to Hyperinsight monitoring, whale 0x004e, whose trading had been concentrated on BTC for over three months previously, for the first time today stepped out of the crypto market, turning to ChangXin Memory Technologies CXMT.
The whale began building CXMT short positions in batches at noon, as of press time, it holds 500,000 CXMT short contracts with 2x isolated margin, position value approximately 3.533 million USD, average entry price 7.47 USD.
As CXMT fell back to 7.0669 USD, this short position has unrealized profit of approximately 204,900 USD, return rate approximately 10.96%; liquidation price is 13.58 USD, the address has allocated approximately 3.599 million USD margin to the isolated position, currently there are no unfilled orders.
In terms of market conditions, CXMT is currently quoted at 7.06 USD, 24-hour gain remains at 15.7%; calculated at USD to CNY exchange rate of 6.7939, corresponding to approximately 48.01 CNY.
Historical transaction records show, the whale only traded BTC in the past three months, this is its first recent involvement in stock contracts, currently still holds 40x leveraged BTC short positions, size 6.6 million USD.
