CXMT Hyperliquid Data Review: Pre-IPO Trading Volume Reached $17.8 Million, 96% of Smart Money Profited from Shorting

Odaily Planet Daily News On-chain data platform Allium posted on X, stating that it recorded Hyperliquid traders' 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; one minute before the IPO, the price deviation of the perpetual contract from the opening price was within 3%; 15-minute trading volume grew 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 long-biased, while Korean wallets were the most short-biased. Most long positions came from traders who joined Hyperliquid over the past weekend.