ChainCatcher reported, citing on-chain commentator Ai Yi, that the largest identifiable short seller in ChangXin Memory-related on-chain trading is holding a roughly $21.12 million short position in CXMT with 1x leverage. The position was opened at about $6.5. With CXMT now trading around $7.28, the trader is sitting on an unrealized loss of about $2.255 million. On top of that, cumulative funding fees paid on the position have climbed to $3.078 million. The trader had previously posted more than $40 million in margin, leaving the liquidation price still far away at $15.466. Even so, the ongoing funding cost is eating into returns. Market participants have speculated that the trader may still be betting on a sharp pullback in CXMT to offset current losses and eventually turn the position profitable.
ChainCatcher, citing Ai Yi, reported that the top on-chain short seller in ChangXin Memory-related trading is holding a CXMT short position worth about $21.12 million with 1x leverage. The entry price was around $6.5.
With the token now at about $7.28, the position is showing an unrealized loss of roughly $2.255 million. The trader has also paid cumulative funding fees of $3.078 million.
The position previously posted more than $40 million in margin, and the liquidation price remains some distance away at $15.466. Even so, rising funding costs are eroding returns. The market has speculated that the trader may still be betting on a sharp correction in CXMT to cover current losses and move back into profit.
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