Changxin Tech IPO Surges 471% Triggering $3.5M Hyperliquid Liquidations

Changxin Technology's 471% debut spike caused violent volatility in Hyperliquid CXMT contracts, resulting in $3.53M in total liquidations as whales on both sides were cleared.

Woofun AI reports that Changxin Technology debuted on the Sci-Tech Innovation Board with an opening price of 49.50 yuan, representing a 471.6% increase from the 8.66 yuan issue price. The stock peaked at 49.88 yuan before retreating to 38.11 yuan, creating a 23.6% intraday amplitude, and was trading near 46 yuan at press time.

This volatility impacted the Hyperliquid CXMT contract, which hit a daily high of $7.27 before dropping to $5.96 within 21 minutes. Total forced liquidations reached approximately $3.5345 million, comprising $2.397 million in shorts and $1.136 million in longs. Two major addresses accounted for 70.9% of these losses: address 0x517 lost $249,000 from short liquidations, while address 0x63c lost $100,200 from long liquidations. Changxin Technology's market value has risen to approximately 3.08 trillion yuan based on current pricing.