Changxin Technology continues to surge today, with a shorting whale liquidated within the first 30 seconds of the market open

July 30, today Changxin Technology opened at 52.20 yuan, quickly rose to 53.89 yuan, an increase of 3.24% from the opening price. At the same time, the CXMT contract on Hyperliquid surged to a high of $7.646, with a maximum increase of 6.10% within the first minute of trading; at the time of writing, CXMT has fallen back to $7.2962.

According to Hyperinsight monitoring, only 34 seconds after opening, a whale with an address starting with 0xf91 encountered two rounds of forced liquidation in a row, with a total of 246,900 CXMT short positions being liquidated, with a liquidation average price of about $7.52, a liquidation scale of about $1.858 million, resulting in a loss of about $95,400.

The whale initiated a TWAP sell order lasting about 10 hours last night, planning to short 250,000 CXMT. As of around 9 o'clock today, its short position was basically established, with an average cost of about $7.138.

The address had previously longed 150,000 CXMT the day before. After closing the long position, on the third trading day of Changxin Technology's listing, it quickly switched to a short position, and the liquidation followed shortly after the reversal.