According to CoinMeta, the first batch of shares for SpaceX has entered the unlocking period today, with the tradable shares accounting for 12% of the total share capital, which is equivalent to 1.43 times the publicly traded volume after IPO. Before the unlocking, the largest order for SPCX TWAP on HyperLiquid was from a profitable short seller who planned to cover 12,900 short positions, worth approximately $1.429 million. As of press time, 6,711.4 shares of this TWAP have been traded, with a completion rate of about 52%, resulting in a profit of around $57,000. The market as a whole is cautious; the value of open contracts for SPCX has decreased by about $24.23 million to $189 million from the high point on August 4th, representing a decline of 11.4%. New shorts continue to enter the market, with addresses starting with 0x6807 netting an additional 66,000 shorts in the past 24 hours, holding a total of about $8.264 million in short positions, with an average entry price of $111.04 and a liquidation price of $118.18. The top holdings are biased towards the short side, and among the largest 30 SPCX addresses, the value of shorts exceeds that of longs by about $26.467 million. Before the unlocking period began, shorts gradually covered their positions through TWAP, while longs waited for a deeper decline below the current price.