ME News, July 27 (UTC+8): According to Hyperinsight monitoring, Changxin Technology listed on the STAR Market today. It opened at 49.50 yuan, up 471.6% from the 8.66 yuan issue price. During the session, the stock price peaked at 49.88 yuan and then quickly fell to 38.11 yuan, with a high-low amplitude of 23.6%. As of the time of writing, Changxin Technology is trading at around 46 yuan, still up 431.2% from the issue price. The sharp volatility was transmitted to Hyperliquid CXMT contracts at the same time. Data shows that the CXMT contract today surged to a high of $7.27 and then dropped to a low of $5.96, retracting 18% within about 21 minutes. During the period, the entire market’s CXMT contracts cumulatively triggered liquidations of about $3.5345 million, including about $2.4M from short liquidations and about $1.14M from long liquidations. The rapid reversal on both sides of the market led to whale positions from both longs and shorts being cleared one after another. Two of the largest liquidation addresses combined losses of about $2.5041 million, accounting for about 70.9% of the total CXMT liquidation scale: Short address 0x517: liquidated 272.5k CXMT short contracts at 08:16, with an average execution price of about $6.91; liquidation size about $1.8848 million; final loss about $249k. Long address 0x63c: liquidated 100k CXMT long contracts at 09:41, with an average execution price of about $6.19; liquidation size about $619.3k; final loss about $100.2k. The two liquidation events combined caused total losses of about $349.2k. Currently, the CXMT positions of both addresses have been fully cleared. On fundamentals, Changxin Technology’s total issued share capital for this offering is about 272.5k shares, corresponding to an issue market value of about 249k yuan. Based on the current stock price of about 46 yuan, the company’s total market capitalization has risen to about 100k yuan. (Source: BlockBeats)

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Changxin Technology’s opening “roller coaster” market: large whales trigger a long/short double liquidation of 3.5 million, followed by tanking at both ends of the market move in succession

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