Changxin Short Whale Position Floating Loss Expands to $7.4 Million in Two Weeks, Funding Fees Have Already Consumed $3.4 Million

According to on-chain analyst Ember (@EmberCN), a whale established short positions worth $22.86 million at an average price of $6.5 (approximately 43.5 RMB) one day before Changxin (CXMT)'s listing, planning to close positions in the $2~4.5 range. However, after CXMT listed, the price remained strong, and the whale has held the position for over half a month without closing. To date, it has accumulated $3.4 million in funding fees, plus approximately $4 million in unrealized losses on the short positions, resulting in total losses of up to $7.4 million.