ChangXin Technology is applying for subscription today, and the on-chain market has already blown up!

CXMT perpetuals on Hyperliquid just launched
and massive capital of more than $8 million rushed in:
One 1x big short directly went after $3.8 million in real money
Several other 5x-plus longs positioned themselves a day early; on the day of the opening, they were still adding to their positions, and there was also a 3x short that simultaneously shorted both CXMT and SK Hynix.
In my view, this isn’t just a simple new listing subscription at all—it’s basically on-chain capital placing bets ahead of the entire storage cycle.
For ordinary investors, price up or down is just the outcome; where the money flows is the real cause.
Against the backdrop of RWA and the ongoing development of stock tokens, more and more money signals will first appear on-chain rather than in traditional markets.
In the future, smart money will vote first on-chain, and A-shares will just be the final outcome.