According to BlockBeats , on August 17th, xyz:UNITREE on Hyperliquid was trading at $98.96, which is approximately RMB 667.86 based on the current exchange rate of 1 USD to 6.7487 RMB. This is 342.9% higher than Unitree's IPO price of RMB 150.8.
Based on Unitree Robotics' total share capital of approximately 404 million shares after its listing, the current contract price corresponds to an implied market capitalization of approximately RMB 270.1 billion and USD 40 billion, which is 4.43 times the issue market capitalization of approximately RMB 60.99 billion.
For comparison, Changxin Technology's offering price was 8.66 yuan, and it closed at 49 yuan on its first day of trading, a 465.8% increase over the offering price. Its intraday high of 55.03 yuan was 535.5% higher. UNITREE's current implied upside is still about 122.9 percentage points lower than Changxin Technology's first-day closing gain. If UNITREE replicates Changxin's first-day closing gain, the corresponding price would be approximately US$126.43, representing about 27.8% upside from the current price.
Currently, UNITREE is up about 4.6% today, with a 24-hour trading volume of about $3.817 million and an open interest of about $18.96 million. The hourly funding rate is about -0.000026%, which is close to neutral, and there is no obvious crowding of leveraged long positions.
Among all UNITREE addresses in the market, addresses starting with 0x652f may be executing similar trades using Changxin's first-day price increase as a profit-taking point. They began building their positions early in the contract's launch and are currently holding a 2x leveraged long position of 2083.81 UNITREE units, with a position value of approximately $203,200; the average entry price is $67.98, resulting in a floating profit of approximately 86.9%; the liquidation price is $46.16.
The long position has already placed two "short-term profit-taking" orders for approximately 91.1% of its position:
- 833.52 units were sold at $106, equivalent to approximately RMB 715.36, which is 374.4% higher than the offering price;
- 1,064 units were sold at $140, equivalent to approximately RMB 944.81, which is 526.5% higher than the issue price.
In addition, the address starting with 0x7277 is the largest long position in UNITREE across the entire market, holding 26,500 units with a 2x leverage ratio, a position value of approximately $2.623 million, an average entry price of $91.08, a floating profit of approximately $209,000, a return of approximately 17.3%, and a liquidation price of $28.98.