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. -HyperInsight Bot is now live. Add @HyperInsightBot to your Telegram group and set it as an admin (enable message sending permission) to automatically sync on-chain news.