Changxin Memory had placed 25 million high-price sell orders, and there were also 10 million-level short positions that had set take-profit ranges in advance.

Deep Tide TechFlow news: On July 27, according to Hyperinsight monitoring, after CXMT’s listing, the largest sell orders on Hyperliquid originated from an address starting with 0xdb0. The address currently has 98 CXMT sell orders posted, with prices covering the $7.32 to $23 range, totaling 1.43M units sold, with a notional value of approximately $1.43M.

Data shows that the address currently holds 2,462.5 CXMT short positions; if the above sell orders are filled in sequence, it will further increase its short exposure.

Meanwhile, another whale starting with 0xf29 is taking a larger unrealized loss: the address shorted 2.6 million CXMT with 1x leverage, with a position value of about $24.98M. Its entry average price is $6.4083, with an unrealized loss of approximately $18.3M, and a liquidation price of $16.9078.

However, this whale has set an exit plan in advance after the price drops: it has posted 300 “take-profit” buy orders in the $2 to $4.5 range, planning to buy back all 2.6 million units of its short position, with a posted notional amount of about $8.35 million. If CXMT subsequently retraces, this zone may become where it closes the position in batches.