Huo Xing Cai Jing reports, according to on-chain analyst Yu Jin, as Changxin Technology (CXMT) surged 5% to reach a market cap of 4 trillion yuan, the largest bearish position taken the day before CXMT’s listing has incurred losses of $10.82 million. This whale has held the short position for a month, having shorted 2.9 million shares of $CXMT at $6.50, which are now trading at $8.60. The price loss amounts to $6.3 million, with an additional $4.52 million paid in funding fees.
CXMT surges 5% to a $40B market cap, top short suffers $10.82M loss
MarsBitShare
Summary
CXMT (Changxin Technology) surges 5% to a $40B market cap, becoming one of the top altcoins to watch. A major short position held by a whale has lost $10.82M. The whale shorted 2.9M CXMT at $6.5 one month before listing. The current price of $8.6 has resulted in a $6.3M loss on the position and $4.52M in funding fees.
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