CXMT Faces $25M Short Sell Orders and Whale Profit-Taking Setup

Hyperliquid sees massive CXMT shorting activity with a $25M sell wall and a whale arranging $8.35M in buy-back orders to exit shorts.

Woofun AI data shows that following CXMT's listing, the largest sell order on Hyperliquid originated from an address starting with 0xdb0. This entity currently maintains 98 sell orders for CXMT, spanning prices from $7.32 to $23, totaling 1.425 million tokens with a nominal value of approximately $24.982 million. The address also holds 2,462.5 short positions in CXMT, which would expand if these sell orders are executed.

Simultaneously, another whale address starting with 0xf29 is recording significant unrealized losses on a short position of 2.6 million CXMT with 1x leverage. The position, valued at approximately $18.304 million with an average entry price of $6.4083, carries an unrealized loss of about $1.642 million and a liquidation price of $16.9078. To manage this exposure, the whale has placed 300 "take profit" buy orders between $2 and $4.5, aiming to repurchase all 2.6 million short positions for a total nominal value of approximately $8.35 million.