China's Chipmaker IPO Frenzy Sets Stage for Cryptocurrency Regulation ChangXin Memory Technologies' valuation is being driven by a frenzy of crypto traders betting on its future performance.
The perpetual futures contract tracking CXMT traded near $6. 35 per share on Hyperliquid, a decentralized derivatives exchange, implying a market capitalization of roughly $425 billion.
The outsized premium reflects the scarcity of access to the STAR market for mainland retail investors and foreigners alike.