New Wallet Cuts CXMT Short to About $300,000 While Holding a $3.25 Million Long

A newly observed wallet has sharply reduced its CXMT short position after previously holding a short valued at $3.8 million, according to monitoring by Hyperliquid News. The position has now been trimmed to 44,168 CXMT, worth about $300,000. The wallet has already closed most of the trade and realized a profit of $197,800. At the same time, the address’s largest open position is now a CXMT long worth $3.25 million, which is currently showing an unrealized loss of $123,000. On-chain records show the wallet’s first transaction date was June 5. The address has deposited $30 million into HyperCore and has also placed multiple buy orders below the current price in an apparent effort to accumulate more CXMT. The monitored activity points to a notable shift in positioning from a much larger short exposure to a sizable long bet, while the wallet continues to build orders beneath the market.