A single address places a buy order worth $2.3 million for CXMT; if executed, it would become the largest long position on the platform.

Odaily Planet Daily News Hyperinsight monitoring shows that as of 15:00, the CXMT mark price on Hyperliquid was reported at $7.22, down approximately 12.7% from the recent high of $8.27; the 24-hour trading volume was approximately $25.7 million, with open interest of about $19.53 million.

During this pullback, an address (0x0422) currently holding only about $155,000 in CXMT long positions has placed three consecutive buy orders below, at $7.03, $6.5, and $6.2, respectively.

The total of the three orders amounts to 357,993.5 units, with a notional value of approximately $2.301 million. If the price continues to fall and triggers all pending orders, the total position of this address will rise from its current level to 379,390.1 units, with the weighted average cost dropping to approximately $6.48; based on $6.20, the notional size of the position would be about $2.352 million.

The overall on-chain position details for CXMT are as follows:

Currently, the largest long holder of CXMT holds a position size of about $1.626 million, with an average price of $7.14 and a liquidation price of $4.61; this address also has a buy order for 5,000 units pending at $7.10.

In terms of the overall on-chain position structure, among the current 834 positions of corresponding sizes, there are 544 long positions and 290 short positions, resulting in a long-to-short quantity ratio of approximately 1.88. There are a total of 32 large positions exceeding $100,000, with a total size of about $12.391 million, giving a large capital short-to-long ratio of approximately 1.18. The average cost price of the top long positions is about $7.54, which has now fallen into a floating loss range.

Additionally, between $6.79 and $6.83, there are concentrated long liquidation positions worth approximately $953,000, belonging to two major long holders. If CXMT declines further, the price will pass through a dense zone of long liquidations before reaching the address's buy order at $6.50.

The nearest short liquidation area above is between $7.82 and $7.86, with a size of approximately $445,000; there are additional short liquidation positions totaling about $570,000 between $8.12 and $8.16.

Public pending orders show that some long holders began setting take-profit orders for a rebound as early as $7.88, while short holders started placing new orders to add positions from $7.90, continuing to short at $8.20 and $8.50, with the three tiers totaling about $246,000. The area around $7.90 has formed a line for longs to take profits and shorts to add positions.