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Hyperliquid's Alibaba contract daily trading volume exceeds $12 million, with a trader pre-positioning long positions with a 25% unrealized profit.
BlockBeats News. On May 14, Reuters cited sources as saying that the United States has approved 10 Chinese technology companies, including Alibaba, ByteDance, Tencent, and JD.com, to purchase NVIDIA H200 AI chips. Alibaba, Tencent Holdings, and JD.com, which were previously impacted by expectations in Hong Kong stocks, saw a sharp rally at one point during trading, but after the positive news was confirmed, Tencent has now given back most of its gains, while JD.com continues to hold at a high level.
Hyperinsight monitoring shows that on-chain, among the traditional market contracts currently supported by Hyperliquid, BABA (an Alibaba-mapped contract) is the only option among the relevant underlying assets. After the contract surged 11% last night and early this morning, it pulled back slightly by about 4% during the day, and is currently quoted at 140 US dollars. The 24-hour trading volume has recently surpassed 12 million US dollars for the first time.
A Hyperliquid trader preemptively marked entries and went long on 2,000 BABA contracts with 10x leverage over the past two days, with an average price of 137 US dollars. The position size is about 280,000 US dollars, and it has already recorded an unrealized profit of 24.5%.
Address: 0x4f0289f688194ca041974579fa216027d86ba525
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