Address becomes Hyperliquid’s largest CXMT short holder with $7.88 million position ahead of listing

CXMT traded at $6.4658 on July 24, leaving the name at a roughly 407% premium to Changxin Tech’s issue price before its July 27 STAR Market debut.

HYPE

32d ago

Fact Check

The core claim is directly stated by the originating source, analyst Ai 姨 (@ai_9684xtpa), whose July 24 post reports address 0xf29…41244 as Hyperliquid's top ('断层 TOP1') CXMT position holding a $7.88 million short ahead of the listing. This is echoed by odaily newsflash 503429. BlockBeats independently confirms the $6.4658 price on July 24, the ~407% premium, and the July 27 STAR Market debut. All specific numbers in the claim match the sources. The only minor discrepancy is that BlockBeats cites a slightly higher largest-short figure ($8.53M) from a different real-time monitor, reflecting differing snapshot times rather than contradicting the $7.88M figure that anchors the claim.

Summary

A wallet tracked by on-chain analyst Ai Yi remains Hyperliquid’s largest CXMT short holder ahead of the token’s July 27 STAR Market debut, after building a 1.23 million-contract short at an average price of $6.615 valued at $7.88 million. The address also placed a 420,000-contract limit sell order at $6.4284 that was 34.39% filled at the time of the earlier report and could have expanded the position to $9.65 million if fully executed. Hyperinsight data showed CXMT trading at $6.4658 on July 24, down about 0.8% over 24 hours but still implying a roughly 407% premium to Changxin Tech’s RMB 8.66 issue price. At that level, implied market value was about RMB 2.94 trillion, while open interest stood near $50.10 million and the largest position was an $8.53 million 1x short held by address 0xf29.

Terms & Concepts

short: A bearish position that seeks to profit if an asset’s price falls.
open interest: The total number of outstanding derivatives contracts that have not been closed or settled.
Hyperliquid: Decentralized perpetual futures trading platform.