Unrealized profit of approximately $204,900: Bitcoin whale expands into CXMT position

Odaily reported, according to monitoring by Hyperinsight, the whale address 0x004e, which had focused solely on BTC trading for over three months, has today ventured outside the crypto market for the first time, turning to ChangXin Memory Technologies (CXMT).

The whale began opening CXMT short positions in batches around noon. As of press time, they hold 500,000 CXMT short contracts with 2x isolated margin, with a position value of approximately $3.533 million and an average entry price of $7.47.

As CXMT fell to $7.0669, the short position has generated an unrealized profit of approximately $204,900, a return rate of about 10.96%. The liquidation price is $13.58. The address has allocated approximately $3.599 million in margin to the isolated position, and there are currently no pending orders.

In terms of price action, CXMT is currently trading at $7.06, maintaining a 24-hour gain of 15.7%. At an exchange rate of 6.7939 USD to CNY, this corresponds to approximately 48.01 yuan.

Historical transaction records show that the whale had only traded BTC in the past three months. This move marks its first foray into equity contracts recently. It still holds a 40x leverage BTC short position, valued at $6.6 million.