UNITREE Pre-IPO Contract Drops 14% on Hyperliquid with Negative Funding

Unis Technology pre-IPO derivatives on Hyperliquid slide 14.2% to $62.88 as funding turns negative, implying a $171.5B valuation against a $42B target.

Woofun AI reports that the UNITREE pre-IPO contract launched on Hyperliquid with an opening price of $73.33, subsequently falling to an intraday low of $61.92. The asset currently trades at $62.88, representing a 14.2% decline from open and a 16.9% drop from the session high, with total volume reaching $2.74 million and open interest at $1.039 million.

Market sentiment has shifted bearish as the hourly funding rate turned negative to -0.0044%, following three positive settlements. The mark price sits 2.2% below the $64.30 oracle price. Based on a minimum share capital of 404.46 million shares, the current price implies a market capitalization of approximately $171.5 billion, which is 4.1 times the planned fundraising valuation of $42 billion.