South Korean users become the main force shorting CXMT? Wallets from China and the US mostly bullish

Odaily reported that on the eve of CXMT's listing, attributed CXMT wallets on Hyperliquid show that wallets from the US, Hong Kong, and mainland China are generally bullish, while wallets labeled as South Korean have become the main short-selling force in this sample.

Among them, South Korean wallets hold approximately $760,000 in short positions, with the size of short positions being about 38 times that of long positions; wallets labeled as Taiwan also lean bearish, with net shorts of approximately $329,000.

On the long side:

- US-labeled wallets hold $1.6 million in long positions and $345,000 in short positions, with a net long of approximately $1.255 million;

- Hong Kong-labeled wallets hold $1.3 million in long positions and $431,000 in short positions, with a net long of approximately $869,000;

- Mainland China-labeled wallets hold only $83,000 in long positions and $16,000 in short positions, with a net long of approximately $67,000.

Assuming the $760,000 short positions from South Korean-labeled wallets were all opened before the market open at a uniform price of $6.48 with no subsequent adjustments and using 1x leverage, the theoretical floating loss on these short positions would be approximately $48,500, with a loss rate of about 6.4%.