CXMT CXMT reportedly records its largest single-day decline since listing, returning to the main trading range on the first trading day

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CXMT CXMT Records its largest single-day decline since listing, with the price returning to the main trading range on the first trading day

CXMT Technology's midday price was 51.07 yuan, down 6.79%, after falling as much as 7.65%intraday, marking its largest single-day decline since listing. According to TradingBeats monitoring, as of Beijing time 12: 26, Trade.xyz's CXMT perpetual contract on Hyperliquid was quoted at 7.7315 USD，24 and was down approximately 6.87%。

The A-share technology sector broadly weakened alongside the pullback. The STAR 50 Index fell 3.66%，CPO at midday, while semiconductors and other sectors came under broad pressure. CXMT had already shown signs of fund adjustments; according to reports,September CXMT Technology recorded cumulative net outflows of approximately 6991000000 yuan, the largest among A shares. However, Micron rose against the trend overnight by 4.06%, leaving domestic and overseas memory stocks divergent.

In addition, Reuters reported that companies including SpaceX and Broadcom plan to purchase AI chips through substantial borrowing, raising market concerns about the sustainability of AI capital expenditures; the U.S. 10-year Treasury yield rose to approximately 24 overnight, its highest level in years. Today's A-share STAR 50 fell 3.66%at midday, while semiconductors, memory chips, and CPO sectors came under broad pressure.

In A-share price terms, CXMT Technology has now returned to the main trading range on its first trading day. CXMT July 27 was issued at 8.66 yuan, and in late August month rose to a peak of 61.8 yuan. It is currently approximately July 27 below the first-day high of 55.03 yuan, a decline of approximately 7.2%; compared with the 61.8 high since listing, it has retraced approximately 17.4%。

On-chain positions have not contracted. Over the past 24 hours,CXMT the contract trading volume was approximately 17570000 USD, while notional OI was approximately 29770000 USD, a slight increase of approximately 24 from 0.2%hours earlier; excluding price changes, the number of open contracts instead increased by approximately 7.4%。

Meanwhile, the funding cost for long positions continued to rise, possibly because bottom-fishing funds flowed in. Previously, the funding rate over 24 hours was -0.0101%; today, the hourly settlement rate from 10: 00 to 12: 00 rose as high as +0.04381%, with longs paying shorts in each case; it is currently approximately +0.025。

The largest on-chain long saw its unrealized profit shrink by nearly 35%during the pullback and did not reduce its position. The top long tracked by TradingBeats still holds CXMT in long positions, worth approximately 9066000 USD, with an entry price of 6.6155 USD and 5 times leverage; its current unrealized profit is approximately 1308500 USD（0x9a80）。