Changxin Hyperliquid Data Review: Pre-market trading volume reaches $17.8 million, with 96% of smart money profiting from early short positions

According to Odaily, 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; 1 minute before the IPO, the perpetual contract price deviated less than 3% from the opening price; 15-minute trading volume increased from $1 million the previous day to $14 million; total trading volume before the IPO reached $17.8 million. Smart money traders had already established and profited from short positions before the IPO, with most continuing to hold or even increasing their positions. U.S. and Hong Kong wallets had the largest long positions, while Korean wallets had the most short positions. Most long positions originated from traders who newly joined Hyperliquid last weekend.