Yushu IPO Pre-Listing Perpetual Contract Experiences a Brief 5.5% Flash Crash, Currently Trading at Approximately 600 Chinese Yuan

BlockBeats News, August 13th, during the Trade.xyz pre-IPO of Unitree, a flash crash occurred in the perpetual contract market. After rising to $94, it dropped to $88.8 within an hour, a short-term decline of 5.5%. The current price is around 600 RMB, corresponding to a post-listing market capitalization of approximately $36 billion, or about 243 billion RMB. According to Unitree's previously set IPO price of 150.8 RMB per share, it is expected to bring a 3.98x return on the initial public offering, with a subscription payment profit deduction of about 224,600 RMB.

Unitree is expected to officially list for trading from mid to late August and is currently awaiting final confirmation from the Shanghai Stock Exchange.