Hyperliquid Traders Price Unitree at Four Times IPO Level

Chinese robot maker Unitree is preparing to go public, drawing early bets from crypto traders seeking exposure before its shares begin trading. Hyperliquid’s Pre-IPO perpetual contract allows investors to take leveraged positions tied to the company’s prospective valuation, turning the decentralized platform into an advance gauge of demand for one of the robotics sector’s most closely watched listings.

As of Aug. 16, 2026, traders had pushed the Unitree contract to nearly $93 a share, implying a valuation of about $38 billion and a level more than four times above the IPO pricing. Blockchain analytics firm Allium said the unusually wide premium could produce sharp swings once the stock starts trading, increasing the risk that leveraged positions on Hyperliquid are liquidated as prices converge with the public market.