According to CoinMeta, ChangXin Technology opened at 52.20 yuan today and then quickly rose to 53.89 yuan, an increase of 3.24% from the opening price. During the same period, the cxmt contract on hyperliquid reached a high of 7.646 US dollars, with a maximum increase of 6.10% within one minute of opening. As of press time, cxmt had fallen back to 7.2962 US dollars. Just 34 seconds after opening, a large trader starting with 0xf91 encountered two rounds of forced liquidations, with a total of 246,900 cxmt short positions being fully liquidated at an average liquidation price of about 7.52 US dollars, resulting in a loss of approximately 95,400 US dollars. This large trader initiated a TWAP sell order lasting about 10 hours last evening, planning to short 250,000 cxmt. By around 9 a.m. today, their short position was basically established, with an average cost of about 7.138 US dollars. On the previous day, this account had also gone long on 150,000 cxmt. After closing their long positions, they switched to short selling on the eve of the third trading day of ChangXin Technology's listing, but quickly triggered forced liquidations during today's opening rally, going from being in a long position to being completely liquidated in just one night.