A whale address identified as 0x004e, whose trading activity had been focused almost exclusively on BTC for more than three months, has opened its first position outside the crypto market, according to Hyperinsight. On July 27, the address began building a short in ChangXin Memory Technologies, or CXMT, in batches around midday.
At the time of publication, the whale held 500,000 CXMT short contracts on isolated 2x leverage, with the position valued at about $3.533 million and an average entry price of $7.47. As CXMT fell to $7.0669, the short showed an unrealized profit of roughly $204,900, for a return of about 10.96%. The liquidation price was listed at $13.58.
Data also showed the address had allocated about $3.599 million in margin to the isolated position and had no open resting orders. On Hyperliquid, CXMT was quoted at $7.06, still up 15.7% over the past 24 hours. Using a USD/CNY rate of 6.7939, that price was equivalent to about 48.01 yuan. Historical trade records show the whale had traded only BTC over the past three-plus months and still holds a 40x leveraged BTC short worth $6.6 million.
A whale address known as 0x004e, whose trades had been concentrated in BTC for more than three months, has made its first move outside the crypto market and opened a position in ChangXin Memory Technologies, or CXMT, according to Hyperinsight monitoring on July 27.
The address started building a CXMT short around midday in batches. By press time, it was holding 500,000 CXMT short contracts on isolated 2x leverage, with the position valued at about $3.533 million and an average entry price of $7.47.
After CXMT pulled back to $7.0669, the position was showing an unrealized profit of about $204,900, equal to a return of roughly 10.96%. The liquidation price stood at $13.58. The wallet had allocated about $3.599 million in margin to the isolated position, and there were no unfilled orders at the time of publication.
Market data showed CXMT trading at $7.06 on Hyperliquid, while still holding onto a 24-hour gain of 15.7%. Based on a USD/CNY exchange rate of 6.7939, that price was equivalent to about 48.01 yuan.
Historical trading records show the whale had traded only BTC over the past three-plus months. This marks its first recent move into stock-linked contracts. The address is also still holding a 40x leveraged BTC short valued at $6.6 million.
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