Changxin Technology was hit by a 25 million high-priced sell order amid "shorting on the rise", with another short position worth tens of millions pre-setting a take-profit range.
According to Hyperinsight monitoring, following CXMT’s listing, the largest sell order on Hyperliquid originated from the address starting with 0xdb0. This address currently has 98 CXMT sell orders placed, spanning a price range of $7.32 to $23, totaling 1.425 million units sold, with a notional value of approximately $24.982 million. Data shows this address currently holds 2,462.5 CXMT short positions; if the above sell orders are gradually filled, it will further expand its short exposure. Meanwhile, another whale address starting with 0xf29 is facing substantial unrealized losses: this address shorted 2.6 million CXMT units with 1x leverage, with a position value of approximately $18.304 million, an average entry price of $6.4083, current unrealized losses of around $1.642 million, and a liquidation price of $16.9078. However, this whale has pre-set an exit strategy for a price pullback, currently placing 300 "take-profit" buy orders in the $2 to $4.5 range, planning to repurchase all 2.6 million short positions, with a notional value of approximately $8.35 million. If CXMT pulls back later, this range may serve as its batch position-closing zone.
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Changxin Technology set multiple A-share market records in its first hour of trading.
Leading domestic Chinese storage giant ChangXin Memory Technologies listed on the STAR Market, setting multiple A-share market records on its debut trading day:
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Changxin Technology becomes the first individual stock in A-share history to exceed 100 billion yuan in single-day trading turnover.
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3 minutes ago
Changxin Technology saw price anchoring deviation on its first trading day, with Hyperliquid’s marked price trading at a 5.13% discount to its A-share price.
According to Hyperinsight’s monitoring, as of press time, Changxin Technology (688825.SH) A-share was trading at 49.50 yuan. At the same time, the oracle price of CXMT contracts on Hyperliquid stood at $7.31, while the mark price was $6.97: the mark price was $0.3345 lower than the oracle price, a discount of 4.57%; it was also $0.3771 lower than the converted A-share price, a discount of 5.13%. When converted to RMB, Hyperliquid’s mark price corresponds to approximately 46.96 yuan, about 2.54 yuan lower than Changxin Technology’s actual stock price; the oracle price translates to roughly 49.21 yuan, with a difference of only 0.29 yuan from the actual stock price.
3 minutes ago
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