Changxin Technology's Opening Bell Witnesses "Roller-Coaster" Price Action: Whale Triggers Long and Short Liquidations Totaling 3.5 Million, Successively Toppled at Both Ends of the Market

July 27th, according to Hyperinsight monitoring, Changxin Technology debuted on the Sci-Tech Innovation Board today, opening at 49.50 yuan, a 471.6% increase from the 8.66 yuan issue price. The intraday highest stock price reached 49.88 yuan, then quickly fell back to 38.11 yuan, with a high-low point amplitude of 23.6%. At the time of writing, Changxin Technology was trading at around 46 yuan, still up 431.2% from the issue price.

The violent fluctuation also transmitted to the Hyperliquid CXMT contract. Data shows that the CXMT contract reached a daily high of $7.27 today, then dipped to a low of $5.96, experiencing an 18% retracement within about 21 minutes. During this period, the total forced liquidation of the CXMT contract in the market reached approximately $3.5345 million, with short positions liquidated about $2.397 million and long positions liquidated about $1.136 million.

The rapid reversal at both ends of the market led to the liquidation of whales on both sides of the long and short positions. The two largest liquidation addresses collectively lost about $2.5041 million, accounting for approximately 70.9% of the total CXMT liquidation:

Short position address 0x517: Forced liquidation of 272,500 CXMT shorts at 08:16, with an average execution price of about $6.91, liquidation size of about $1.8848 million, and a final loss of about $249,000;

Long position address 0x63c: Forced liquidation of 100,000 CXMT longs at 09:41, with an average execution price of about $6.19, liquidation size of about $0.6193 million, and a final loss of about $100,200.

The two liquidations resulted in a total loss of about $349,200, and the positions of the two addresses mentioned above have now been cleared to zero.

On the fundamental side, Changxin Technology's total issued shares this time amounted to about 66.881 billion shares, corresponding to an issued market value of about 579.188 billion yuan. Based on the current price of around 46 yuan, the company's total market value has risen to about 3.08 trillion yuan.