CXMT IPO Attracts Heavy Hyperliquid Trading Ahead of Listing

Allium said it recorded Hyperliquid traders’ positions 36 minutes before the CXMT IPO to observe market changes before and after the listing. According to Odaily, CXMT had been tradable for 12 days, and the perpetual contract price was within 3% of the opening price one minute before the IPO. According to Odaily, 15-minute trading volume rose from $1 million the previous day to $14 million, while total trading volume before the IPO reached $17.8 million. The data showed that smart money traders had already opened short positions before the IPO and made profits, with most continuing to hold or add to those positions. Wallets from the U.S. and Hong Kong were the largest long holders, while wallets from South Korea held the largest short positions. Most long positions came from traders who joined Hyperliquid last weekend.