Are South Korean users becoming the main short sellers of Changxin Technology? Open interest in US and Chinese addresses is generally bullish.

According to HyperInsight monitoring, on the eve of Changxin Technology's IPO, attributable Changxin Technology wallets on Hyperliquid showed that: US, Hong Kong, and mainland China wallets were generally bullish, while South Korean wallets were the main short sellers in the sample. Specifically, South Korean wallets held approximately $760,000 in short positions, about 38 times the size of their long positions; Taiwanese wallets were also bearish, with a net short position of approximately $329,000. On the long side: - US wallets held $1.6 million in long positions and $345,000 in short positions, resulting in a net long position of approximately $1.255 million; - Hong Kong wallets held $1.3 million in long positions and $431,000 in short positions, resulting in a net long position of approximately $869,000; - Mainland China wallets held only $83,000 in long positions and $16,000 in short positions, resulting in a net long position of approximately $67,000. If we assume that the $760,000 short position in the Korean tag wallet was opened uniformly at $6.48 before the market opened, and that there were no subsequent adjustments, and that all positions were calculated at 1x leverage, then the theoretical unrealized loss of the short position would be approximately $48,500, with a loss rate of approximately 6.4%.