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Hyperliquid Launches Longxin Tech Perpetual Futures at $7.2, Pricing 6x IPO Valuation on July 15

GateNews
HYPE0.17%
According to Guru Club, Hyperliquid launched perpetual futures on Longxin Technology stock on July 15 at $7.2 per share (approximately 52 CNY) ahead of the company's IPO pricing of 8.66 CNY per share on July 16. Based on post-IPO total shares of 668.8 billion, the contract implies a valuation of around 3.5 trillion CNY, roughly six times the IPO offering value of 579 billion CNY. The perpetual contract attracted 1.32 million USD in trading volume and 2.41 million USD in open interest within 24 hours of launch. This marks the first time on-chain pre-market futures have targeted an A-share STAR Market IPO.
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