Unrealized profit of approximately $204,900. Bitcoin whale crosses over to build position in CXMT

According to monitoring by Hyperinsight, a whale address (0x004e) that had exclusively traded BTC for over three months has, for the first time, stepped outside the crypto market today to take a position in ChangXin Memory Technologies (CXMT).

The whale began building a short position in CXMT around midday. 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 retreated to $7.0669, the short position has generated an unrealized profit of about $204,900, representing a return of approximately 10.96%. The liquidation price stands at $13.58. The address has allocated approximately $3.599 million in collateral to the isolated margin position, with no pending orders currently.

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

Historical trading records show that over the past three months, this whale only traded BTC. This move marks their first foray into stock derivatives recently. They still hold a 40x leveraged BTC short position valued at $6.6 million.