Market data from trade.xyz showed that the CXMT contract linked to ChangXin Memory Technologies rose sharply to $8.48 after the platform lifted its price protection mechanism. Based on the roughly 6.688 billion shares outstanding disclosed in the company’s prospectus after the offering, that contract price corresponds to an implied valuation of about 3.8 trillion yuan. The contract’s current open interest stood at $6.01 million, while trading volume reached $5.13 million. BlockBeats noted that trading activity has not fully reflected investor demand because part of the market was previously restricted when the platform’s price protection mechanism was triggered. The safeguard is activated when the deviation between the instrument’s mark price and the oracle price becomes too large, limiting some transactions during the affected period.
BlockBeats reported on July 15 that market data on trade.xyz showed the CXMT contract tied to ChangXin Memory Technologies surged after the platform lifted its price protection mechanism, with the contract last trading at $8.48.
Using the approximately 6.688 billion shares outstanding after the offering, as disclosed in the company’s prospectus, that price implies a valuation of about 3.8 trillion yuan.
The contract’s open interest currently stands at $6.01 million, and trading volume is $5.13 million. BlockBeats said part of the trading in the contract had been restricted because the platform’s price protection mechanism was triggered when the gap between the instrument’s mark price and the oracle price became too wide. As a result, overall trading volume has not fully captured investor demand.
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