BTC Whale Opens $3.53M Short on CXMT with 2x Leverage

A prominent BTC whale initiates first stock contract trade, shorting Changxin Technology for $3.53M. The position yields ~$205K profit as CXMT drops, marking a strategic diversification from crypto-only trading.

Woofun AI reports that the BTC whale address 0x004e has executed its first trade outside the cryptocurrency market by opening short positions on Changxin Technology (CXMT). The entity holds 500,000 CXMT shorts with 2x leverage, totaling a position value of approximately $3.533 million at an average entry price of $7.47.

With CXMT trading at $7.0669, the short position has generated unrealized profits of roughly $204,900, representing a return rate of about 10.96%. The liquidation price stands at $13.58, supported by a margin allocation of approximately $3.599 million. While CXMT shows a 24-hour gain of 15.7% on Hyperliquid, this whale has previously traded only BTC over the last three months and currently maintains a separate $6.6 million, 40x leveraged short position on BTC.