CXMT rose about 12.0% over the past 24 hours despite continuing policy pressure tied to U.S. opposition to Apple sourcing Chinese memory chips. The stock reached an intraday high of $9.1654, the highest since its contract was listed on Hyperliquid, and was last trading around $8.98, according to TradingBeats, formerly Hyperinsight. The move trailed only KIOXIA among major memory-related names and outperformed Micron, Sandisk and SK hynix. The advance was accompanied by a rapid build-up in leveraged positioning. Open interest (the total value of outstanding derivatives positions) in CXMT stood at about $73.39 million, up roughly $26.25 million from 24 hours earlier, a 55.7% increase. After stripping out the effect of the price rise, position size still increased by about 39.0%. Trading volume over the same period was about $28.83 million. During the push to new highs, the funding rate (periodic payments between long and short traders in perpetual futures) flipped from positive to deeply negative. CXMT's cumulative funding rate over the past 24 hours was about -0.7885%, while the current hourly funding rate was around -0.0235%. Public order-book data showed buying interest below $8.80, while some long profit-taking appeared above $9.50.