SpaceX didn’t just break into public markets this week. It broke crypto trading records on the way in.
More than $9 billion in total volume has flowed through SpaceX-linked derivative products since they launched in May, with $5.6 billion of that landing on Binance alone in a single 24-hour window around the company’s Nasdaq debut on June 13. To put that in perspective, that’s more daily volume than most mid-cap tokens see in a month.
The IPO that lit up two markets simultaneously
SpaceX priced its IPO at roughly $135 per share under the ticker SPCX on June 12-13, then promptly closed up about 19% near $161. That pop pushed the company’s market capitalization past the $2 trillion mark, placing it in rarefied air alongside the largest publicly traded companies on Earth.
But the traditional stock market was only half the story. Binance had already launched its SPCXUSDT perpetual futures contract back on May 21, weeks before the first share changed hands on Nasdaq. By the time the IPO actually happened, crypto traders had been positioning themselves for days.
