A trader on Hyperliquid was liquidated within 28 minutes after opening a short position in ChangXin Memory Technologies-related contract CXMT, according to on-chain analyst Ai Yi cited by Odaily. The position was worth about $220,000 and ended with a loss of roughly $44,000. Ai Yi said liquidity in the CXMT contract on Hyperliquid is relatively thin at the moment, with price swings remaining sharp. The analyst also pointed to data showing that a wallet with more than $75 million in assets is building a long position in CXMT. The update highlights the risks tied to trading lower-liquidity contracts on perpetual venues, where large positioning can coincide with rapid moves and forced liquidations over a short period.
A trader on Hyperliquid was liquidated within 28 minutes after shorting ChangXin Memory Technologies-related contract CXMT, according to on-chain analyst Ai Yi as cited by Odaily.
The position was worth about $220,000 and lost roughly $44,000. Ai Yi said liquidity for the CXMT contract on Hyperliquid is relatively low at present, while price moves have been volatile. Data also shows that a wallet with more than $75 million in assets is building a long position in CXMT.
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