TechFlow News, June 18: According to Hyperinsight monitoring data, the Hyperliquid HIP-3 ecosystem launched MINIMAX (MiniMax) perpetual futures trading today. As of press time, approximately $480,000 in open positions have been established for MINIMAX, with the current price at $60.70. Notably, one trader opened a short position on MINIMAX with 10x leverage, amounting to $178,000 in position size, at an average entry price of $60.60.
On the news front, MiniMax’s stock has faced sustained downward pressure recently. The company went public on January 9, and its prospectus disclosed that certain pre-IPO shareholders are subject to a six-month lock-up period. Market participants have begun pricing in the anticipated unlocking event scheduled for early July, raising concerns about potential increases in freely tradable supply around July 9—contributing to a roughly 53% cumulative decline in the stock price during the first two weeks of June. Additionally, commercial pricing for the M3 model, coupled with JPMorgan downgrading the stock, has further weighed on its performance.
