Korean Users Become Main Short Sellers of Ebang? While Both Chinese and American Addresses Are Generally Bullish

July 27th, according to Allium data, on the eve of ChangXin Technology's listing, the Hyperliquid attributable CXMT wallet displayed: wallets from the United States, Hong Kong, and mainland China were overall net long, while Korean tagged wallets became the main short sellers in the sample.

Among them, Korean wallets held a short position of approximately $760,000, with the scale of shorts being about 38 times that of longs; Taiwan tagged wallets similarly leaned short, with a net short position of about $329,000.

Long Side:

U.S. tagged wallets: held $1.6 million in longs, $345,000 in shorts, net long of about $1.255 million;

Hong Kong tagged wallets: held $1.3 million in longs, $431,000 in shorts, net long of about $869,000;

Mainland China tagged wallets: only held $83,000 in longs, $16,000 in shorts, net long of about $67,000.

If we assume that the $760,000 short position of Korean tagged wallets was all opened before the market opened, opened at a uniform price of $6.48, no repositioning afterwards, and all calculated with 1x leverage, then the theoretical unrealized loss of the short position is about $48,500, with a loss rate of about 6.4%.

Note: According to Allium documentation, about 25% of addresses in its overall address library can be nationally attributed to Hyperliquid; the actual coverage and confidence distribution of this CXMT sample have not been disclosed. Geographic tags are inferred from on-chain correlations, fund sources, active time zones, and other signals and do not equate to the actual nationality of holders or their real-time locations, and OI does not represent the number of traders.