US Dissuades Purchase but Fails to Stop CXMT Surge, Hyperliquid Holdings Soar 56%
BlockBeats News, August 17th, according to TradingBeats (formerly Hyperinsight) monitoring, earlier U.S. Commerce Secretary Lutnick expressed opposition to Apple's procurement of Chinese storage chips. Apple has also tested the ChangXin Memory Technologies (CXMT) DRAM chip, and U.S. Congress members have requested restrictions on related purchases, but it currently remains a policy pressure rather than a formal ban.
Although the news continues to ferment, it has failed to suppress the rise in CXMT's stock price. Its intraday high today reached $9.1654, hitting a new high since the launch of Hyperliquid futures contracts, and is now trading at around $8.98, up approximately 12.0% in the past 24 hours, second only to KIOXIA, significantly outperforming major storage targets such as Micron, SanDisk, and SK Hynix.
This round of gains is accompanied by a rapid influx of leveraged funds. The current open interest value of CXMT futures contracts is about $73.39 million, an increase of about $26.25 million from 24 hours ago, a 55.7% increase; excluding the impact of price increases, the number of positions still increased by about 39.0%. The 24-hour trading volume during the same period was approximately $28.83 million.
During the price's new high, the funding rate has shifted from positive to extremely negative. The cumulative funding rate of CXMT in the past 24 hours is approximately -0.7885%, and the current hourly funding rate is approximately -0.0235%.
The public order book structure shows that there is still a willingness to take on below $8.80, while above $9.50 has begun to enter a partial long profit-taking zone. The top addresses with non-"reduce-only" buy orders are mainly distributed between $6.01 and $8.80, planning to buy approximately $1.364 million worth of CXMT; while the existing long positions with non-"reduce-only" sell orders are mainly located above $9.50, planning to realize approximately $4.304 million in positions.
