A live market priced CXMT's 472% IPO pop before Shanghai opened
Where the perp priced the open, how close it landed, and how the wallets with the best records were positioned into the print.
CXMT opened 472% above its offer price on July 27. A Hyperliquid perpetual had priced most of that gap before the bell, and wallet-level data shows who was positioned going in.
Informational only. Not investment advice.
By Elton Shehdula, Head of Research @Allium
ECOSYSTEMS
July 23, 2026
Gain exposure to Anthropic and OpenAI before the IPO
ECOSYSTEMS
July 23, 2026
Binance's outflows shifted further to self-custody into the MiCA deadline
ECOSYSTEMS
July 16, 2026
The most expensive long onchain is a crowded bet on SK Hynix
ECOSYSTEMS
July 16, 2026
US-linked wallets are the biggest political crowd on Polymarket despite being geoblocked
ECOSYSTEMS
July 1, 2026
Which Company Will Be the World's Largest by Year-End 2026?
ECOSYSTEMS
June 25, 2026
State of Onchain Finance Q2 ’26
ECOSYSTEMS
June 19, 2026
Meeting in the Middle
ECOSYSTEMS
July 11, 2026
Pricing SpaceX Pre-IPO Onchain
ECOSYSTEMS
.webp)
June 16, 2026
World Cup Prediction Markets Geography
ECOSYSTEMS
June 16, 2026
A Four-Year Bug, a 64% Crash, and a Question Nobody Can Close
ECOSYSTEMS
June 16, 2026
Tokenized US Funds Onchain: $14.2B and Compounding
ECOSYSTEMS
June 16, 2026
Tokenized Equities Onchain: $3.3B and Growing
ECOSYSTEMS
June 16, 2026
Hyperliquid non-crypto perps
ECOSYSTEMS
June 16, 2026
Ondo Finance (ONDO)
ECOSYSTEMS
June 16, 2026
USDH: What Coinbase Actually Bought
ECOSYSTEMS
June 16, 2026
When Wall Street Sleeps
ECOSYSTEMS
June 16, 2026
Hyperliquid (HYPE): Onchain Research
ECOSYSTEMS
June 16, 2026
Franklin Templeton on Stellar: Onchain Analysis
ECOSYSTEMS
June 17, 2026
Prediction Markets: A New Financial Primitive
ECOSYSTEMS
June 16, 2026
Stellar: Institutional Infrastructure for Global Settlement and Tokenized Assets
ECOSYSTEMS
July 3, 2026
Tokenized Equities: Market Adoption and Trading Dynamics
ECOSYSTEMS
June 16, 2026
Stablecoins: The emergence of a new payment rail
ECOSYSTEMS
June 16, 2026
Onchain Execution: How Institutions Are Trading in DeFi Markets
ECOSYSTEMS
June 16, 2026
Stablecoin Payments: The Truth Behind the Numbers
ECOSYSTEMS
June 16, 2026
In the Shadow of Bank Runs: Lessons from the Silicon Valley Bank Failure and Its Impact on Stablecoins
ECOSYSTEMS
June 16, 2026
Cross-Chain Arbitrage: The Next Frontier of MEV in Decentralized Finance
ECOSYSTEMS
June 16, 2026
The State of Crypto: The Future of Money Is Here
ECOSYSTEMS
June 16, 2026
Stablecoins: Five killer tests to gauge their potential
ECOSYSTEMS
June 16, 2026
On-Chain Trading Data Gaps: Risks for Crypto Market Oversight
ECOSYSTEMS
June 16, 2026
On-Chain Analysis of Smart Contract Dependency Risks on Ethereum
ECOSYSTEMS
June 16, 2026
Bybit Hack: How the Lazarus Group Exploited DeFi Protocols to Launder $400M
ECOSYSTEMS
June 16, 2026
Game Theoretic Liquidity Provisioning in Concentrated Liquidity Market Makers
ECOSYSTEMS
June 16, 2026
Algorithmic Techniques for Utility Improvement Across the Blockchain Stack
Finance is moving onchain. Allium is the system of record it runs on.
Finance is moving onchain. Allium is the foundation it runs on.