The on-chain NASDAQ prototype is emerging! trade.xyz pre-prices AI star new stocks, and traditional financial pricing power is being eroded.

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ME News Report, May 15 (UTC+8), the AI chip star Cerebras Systems (CBRS), known as the "Nvidia Challenger," officially went public on Nasdaq last night, surging to $350 at opening, nearly doubling from the IPO price of $185.
However, prior to this, the Pre-IPO perpetual contracts on trade.xyz had already priced CBRS hours or even weeks in advance.
Since 10 PM last night, trading volume of CBRS stock contracts on the platform skyrocketed, with the stock price quickly rising from the $290 range to $380, followed by continued active trading, with hourly trading volume approaching $100 million.
Meanwhile, CBRS stock was still in the trading and pricing phase on Nasdaq, with ordinary investors only able to trade the stock officially after 1 AM.
As of press time, CBRS contracts on trade.xyz had a 24-hour trading volume of $280 million, with open interest reaching $57.77 million, making it the platform’s fourth most active stock contract.
trade.xyz enables continuous trading and real-time price discovery through perpetual contracts, which traditional finance cannot access, while allowing ordinary investors to participate in new stock pricing weeks in advance.
This indicates that the gray market and roadshow models of traditional IPOs are being disrupted by on-chain finance, with traditional pricing power gradually being eroded.
(Source: BlockBeats)
CBRS-7.9%
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SmallPosition,BigMouth
· 10h ago
It's only retail investors' turn at 1 a.m.; this time difference creates an information arbitrage opportunity.
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QuietRugAlarm
· 10h ago
In the range from 290 to 380, setting the price a few hours in advance—how does this efficiency compare to traditional brokerage firms?
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MintCondition
· 10h ago
I've been watching this deal at Cerebras for a long time, and I didn't expect the pre-IPO to be more exciting than the official opening.
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GateUser-f4ae43e9
· 11h ago
The NVIDIA Challenger narrative is so appealing; the IPO pricing at 185 clearly leaves room for the secondary market to profit.
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MosaicButterfly
· 11h ago
The matching phase of traditional finance vs 24-hour continuous trading on the blockchain, this comparison is too brutal.
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MarginMarmot
· 11h ago
On-chain initial pricing, followed by exchange listing—could this become the default pathway for new stock offerings?
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