Unrealized profit of approximately $204,900, Bitcoin whale crosses sectors to open positions in CXMT

Odaily Planet Daily News According to Hyperinsight monitoring, the whale address 0x004e, which had focused its trades on BTC for over three months, stepped out of the cryptocurrency market for the first time today and turned to CXMT (Changxin Memory Technologies).

The whale began to open short positions in CXMT in batches around noon. As of press time, it holds 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 fell back to $7.0669, this short position has generated an unrealized profit of approximately $204,900, with a return rate of about 10.96%. The liquidation price is $13.58. The address has allocated approximately $3.599 million in margin to this isolated position, and there are currently no pending orders.

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

Historical transaction records show that the whale only traded BTC in the past three months. This move marks its first foray into equity contracts recently, while it continues to hold a BTC short position with 40x leverage, valued at $6.6 million.