CXMT: Hyperliquid Pre-IPO Perps Trade at $7.2

CXMT pre-IPO perpetual contracts launched on Hyperliquid this morning at $7.2, already 5.6 times the confirmed A-share IPO price of ¥8.66 ($1.29). A single whale address that deposited $75.3 million USDC into Hyperliquid over the past week immediately went long, opening a $140,000 position at $6 and layering limit buys between $5.8 and $7.2. Hyperliquid whale trading activity CXMT has drawn attention because the platform now offers Hyperliquid pre-IPO perpetual contracts on traditional stocks, extending its Layer-1 perpetuals infrastructure beyond crypto into equity exposure.