CXMT moved above $8 on its fifth trading day after listing, with on-chain data tracked by Lookonchain showing a clear split in large whale positioning. The latest snapshot points to longs holding the upper hand for now.
One whale wallet, 0xf292, is running a short position of 2.9 million CXMT valued at about $23.54 million. The address is currently sitting on an unrealized loss of roughly $4.67 million and has also paid around $1.42 million in funding fees.
On the other side, whale address 0x9a80 holds a long position of 1.63 million CXMT worth about $13.27 million. That position is showing an unrealized profit of about $2.46 million, while the trader has also collected roughly $823,000 in funding fee income. According to the data cited by BlockBeats, the balance in the current long-short battle is temporarily tilted toward the bulls.
CXMT rose above $8 on its fifth trading day after listing, with bulls holding the edge for now in the battle between long and short positions, according to on-chain tracking cited by BlockBeats from Lookonchain.
Whale positions show a sharp split
On-chain data shows that whale address 0xf292 is currently short 2.9 million CXMT, a position worth about $23.54 million. The wallet is carrying an unrealized loss of about $4.67 million and has paid roughly $1.42 million in funding fees.
Another whale, address 0x9a80, holds a long position of 1.63 million CXMT valued at about $13.27 million. That position is now showing an unrealized profit of about $2.46 million, and the trader has earned about $823,000 through funding fees.
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