Hyperliquid is set to list ChangXin Memory Technologies, or CXMT, on its platform, according to Hyperliquid News. A new HIP-3 ticker linked to the Chinese memory chipmaker was won by a participant who paid 500 HYPE tokens, worth about $32,625. The ticker is expected to go live in the IPOP section, with the company said to be targeting an IPO on July 27.
Separate monitoring from @ai_9684xtpa showed that Hyperliquid’s order book already carried a CXMT buy order worth about $6.824 million at the $6 level. Using that quoted price and a share count of 66.88 billion, the implied theoretical valuation would be roughly RMB 2.7 trillion. That figure would be above Industrial and Commercial Bank of China, which was cited at about RMB 2.66 trillion in market value.
The quoted level, however, came from a pre-IPO perpetual contract order rather than an actual equity valuation. That distinction matters because the order book price does not represent the company’s formal market capitalization.
Hyperliquid will list ChangXin Memory Technologies, or CXMT, according to Hyperliquid News.
A new HIP-3 ticker was won by a participant for 500 HYPE tokens, worth about $32,625. The ticker corresponds to CXMT, a Chinese memory chip manufacturer. The company is expected to hold its IPO on July 27, and the related code will be listed in the IPOP section.
Separately, @ai_9684xtpa said monitoring of the Hyperliquid order book showed a CXMT buy order of about $6.824 million placed at $6.
Based on that quoted order price and a share count of 66.88 billion, the theoretical valuation would be about RMB 2.7 trillion. That would put it above Industrial and Commercial Bank of China, currently the largest company in China’s A-share market by market capitalization at about RMB 2.66 trillion.
Still, the quoted price came from a pre-IPO perpetual contract order rather than an actual valuation.
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