On the first day of MINIMAX's on-chain contract launch, a trader went short with 10x leverage. The stock price is under pressure as the market anticipates an upcoming unlocking.

BlockBeats News, June 18, according to Hyperinsight Monitoring, the Hyperliquid HIP-3 ecosystem today launched the MINIMAX contract trading. As of the time of writing, MINIMAX has attracted approximately $480,000 in open positions, with the price currently at $60.7. One trader has taken a short position on MINIMAX with 10x leverage, with a position size of $178,000 and an average entry price of $60.6.

On the news front, MiniMax's stock price has been under continued pressure recently. Since the company's listing on January 9, the prospectus disclosed that some early shareholders have a 6-month lock-up period. There is market anticipation of unlocked shares in July, with concerns about a potential increase in circulating supply around July 9, leading to a cumulative price drop of about 53% in the first two weeks of June. In addition, the commercialization pricing of M3, combined with a downgrade by MTS, further suppressed the stock price performance.

Address: 0xb190a3c22329da0c078679563d85421f47e7b52e

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