The daily trading volume of the Alibaba contract on Hyperliquid has surpassed $12 million, with a trader front-running a long position, realizing a 25% unrealized gain.

BlockBeats News, May 14th, according to sources cited by Reuters, the United States has approved 10 Chinese technology companies including Alibaba, ByteDance, Tencent, and JD.com to purchase Nvidia's H200 AI chips. Alibaba, Tencent Holdings, and JD.com in the Hong Kong stock market were initially boosted significantly during intraday trading on the news, but Tencent has since retraced most of its gains, while JD.com has maintained its high position post announcement.

Hyperinsight Monitoring shows that in terms of on-chain activity, within the traditional market contracts supported by Hyperliquid, BABA (Alibaba Mapping Contract) is the only option related to the news. After a strong 11% surge last night and this morning, the contract has retraced around 4% during the day, currently trading at $140, with the 24-hour trading volume recently surpassing $12 million for the first time.

A trader on Hyperliquid took advantage of early information, going long on 2000 contracts of BABA with 10x leverage over the past two days, at an average price of $137, with a position size of around $280,000, currently showing an unrealized gain of 24.5%.

Address: 0x4f0289f688194ca041974579fa216027d86ba525

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