A newly created wallet deposited $100 million in USDC into Hyperliquid and then opened a short position on CXMT, according to on-chain analytics platform Lookonchain. The position currently includes an active 1x short of 514,357 CXMT, valued at about $3.8 million. The wallet also placed a limit order to add another 490,000 CXMT to the short, worth roughly $4.17 million. Lookonchain said the trigger range for that order was set between $8 and $9. The activity points to a sizable directional bet shortly after the wallet was created, with both the initial position and pending order disclosed in the on-chain update cited by ChainCatcher.
A newly created wallet deposited $100 million in USDC into Hyperliquid and then opened a short position on CXMT, according to on-chain analytics platform Lookonchain, as cited by ChainCatcher.
The disclosed position has two parts:
- An active 1x short of 514,357 CXMT, valued at about $3.8 million.
- A limit order to add 490,000 CXMT to the short, worth about $4.17 million, with the trigger range set between $8 and $9.
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