Korean users become the main short force for CXMT? Wallets from China and the US generally show bullish sentiment

According to Odaily, on the eve of CXMT's listing, attributable CXMT wallets on Hyperliquid show: wallets from the US, Hong Kong, and mainland China are generally bullish, while wallets tagged as South Korean are the main short force in this sample.

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