Hyperliquid: Trader Holds $4.9M CXMT Long

Hyperliquid trader 0x2b6…32f6c opened a long position of 751,734.8 $CXMT at an average price of $6.7815 for a notional value of $4.945 million; the position now shows an unrealized loss of $154,000 and ranks among the platform’s three largest $CXMT exposures. The same address also maintains a $404,000 long in $SKHX. On the pre-IPO contract, TradeXYZ set the initial mark at $5, with price discovery driven by order-book impact rather than an oracle until actual A-share trading begins on 27 July.