Are South Korean users the main short sellers of Changxin Technology? Meanwhile, addresses from China and the U.S. are generally bullish.

2 hours ago

According to Allium data, on the eve of Changxin Technology (CXMT)’s listing, Hyperliquid-attributable CXMT wallet data shows: wallets from the U.S., Hong Kong, and mainland China are overall net long, while South Korea-labeled wallets are the main short sellers in this sample. Among them, South Korean wallets hold around $760,000 in short positions, with the short position size roughly 38 times that of their long positions. Taiwan-labeled wallets are also net short, with a net short of approximately $329,000. On the long side: U.S.-labeled wallets hold $1.6 million in long positions and $345,000 in short positions, with a net long of around $1.255 million; Hong Kong-labeled wallets hold $1.3 million in long positions and $431,000 in short positions, with a net long of about $869,000; mainland China-labeled wallets hold only $83,000 in long positions and $16,000 in short positions, with a net long of roughly $67,000. Assuming all of South Korea-labeled wallets’ $760,000 short positions were opened at a uniform price of $6.48 before the listing, with no subsequent position adjustments and calculated at 1x leverage, the theoretical floating loss of the short positions is around $48,500, with a loss rate of approximately 6.4%. Note: According to Allium’s documentation, around 25% of Hyperliquid addresses in its overall address database can be attributed to specific countries; the actual coverage and confidence distribution of this CXMT sample have not been disclosed. Geographic labels are inferred from signals such as on-chain associations, fund sources, and active time zones, and do not equate to the holder’s actual nationality or real-time location. Open Interest (OI) also does not represent the number of traders.

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