A newly created wallet deposited $10 million in USDC to build the 1x bearish position, which represents 17.36% of open interest and includes $4.17 million of additional sell orders between $8 and $9.
The largest short position in CXMT on Hyperliquid stands at about $3.8 million, representing 17.36% of open interest in the contract. A newly created wallet deposited $10 million in USDC to establish the trade and has already opened a 1x short on 514,357 CXMT, while placing limit sell orders to add another 490,000 tokens worth about $4.17 million at prices between $8 and $9. The address was showing roughly $45,000 in unrealized profit at publication. Hyperliquid News on X said the CXMT contract was trading at $7.4178, with $48.93 million in 24-hour volume and $21.95 million in open interest.