Longyi Hyperliquid Data Review: Pre-market trading volume reached $17.8 million, with 96% of smart money making profits from shorting ahead of the IPO

Odaily reported that on-chain data platform Allium posted on X, stating that it recorded Hyperliquid trader positions 36 minutes before the CXMT IPO to observe market changes before and after the public listing.

Data shows that CXMT has been tradable for 12 days; 1 minute before the IPO, the deviation of the perpetual contract price from the opening price was within 3%; 15-minute trading volume increased from $1 million the previous day to $14 million; total pre-IPO trading volume reached $17.8 million. Smart money traders had established short positions before the IPO and profited, with most continuing to hold or even increasing their positions. Wallets from the US and Hong Kong were the most bullish, while wallets from South Korea were the most bearish. Most long positions came from traders who joined Hyperliquid over the previous weekend.