A whale has taken a short position on Changxin, opening a $3.8 million short position and planning to further increase their position.

BlockBeats News, July 16th, according to LookIntoChain monitoring, a newly established whale address deposited $10 million USDC on the Hyperliquid platform to short CXMT (Changxin Memory Technologies, listed entity is Changxin Technology).

The wallet has already opened a 1x short position for 514,357 CXMT tokens (worth $3.8 million) and placed a limit order, planning to open another short position for 490,000 CXMT tokens (worth $4.17 million) between $8 and $9.