Hyperliquid Pre-IPO Volume Hits $17.8M as 96% of Smart Money Shorts

Hyperliquid CXMT pre-IPO volume reached $17.8M with 96% smart money shorts. US/HK wallets held longs while South Korean addresses dominated short positions.

Woofun AI data shows that Hyperliquid recorded $17.8 million in pre-IPO trading volume for CXMT, with 15-minute volume spiking to $14 million. On-chain analysis indicates that smart money traders opened short positions ahead of the listing to capture profits, while most long exposure originated from new weekend entrants and wallets based in the US and Hong Kong.