Korean Users Emerge as the Primary Short Sellers of CXMT? Wallets from China and the US Generally Bullish

Odaily Planet Daily News On the eve of CXMT's IPO, attributable CXMT wallets on Hyperliquid show that wallets from the US, Hong Kong, and Mainland China are generally long, while wallets tagged as South Korean are the primary short sellers in this sample.

Among them, South Korean wallets hold approximately $760,000 in short positions, with the short position size being about 38 times that of long positions; wallets tagged as Taiwanese 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 $760,000 short position in South Korean wallets was opened at a uniform price of $6.48 before the market opened, without any subsequent adjustments, and all using 1x leverage, the theoretical floating loss on the short position is approximately $48,500, with a loss rate of about 6.4%.