Korean Users Emerge as Major Short Sellers on CXMT? US and Chinese Addresses Show Predominantly Bullish Sentiment
Odaily On the eve of CXMT's listing, attributable CXMT wallets on Hyperliquid show that wallets from the US, Hong Kong, and Mainland China are generally bullish, while wallets tagged as South Korean appear as the primary short-selling force in this sample.
Among these, South Korean wallets hold approximately $760,000 in short positions, with short positions about 38 times the size of long positions; wallets tagged as Taiwan are also bearish, with a net short of approximately $329,000.
On the long side:
- US-tagged 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-tagged wallets hold $1.3 million in long positions and $431,000 in short positions, with a net long of approximately $869,000.
- Mainland China-tagged wallets hold only $83,000 in long positions and $16,000 in short positions, with a net long of approximately $67,000.
Assuming the South Korean-tagged wallets' $760,000 short positions were all opened before market open at a uniform price of $6.48, with no subsequent adjustments and all at 1x leverage, the theoretical floating loss on these short positions would be approximately $48,500, representing a loss rate of about 6.4%.
