Binance recorded over $5.7 billion in trading volume on its SPCXUSDT pre-IPO perpetual futures contract on June 12, the same day SpaceX debuted on the Nasdaq under ticker SPCX at $135 per share.
The SpaceX IPO raised approximately $75 billion at a valuation of roughly $1.75 trillion, making it the largest IPO on record.
How a crypto exchange became SpaceX’s unofficial trading floor
Binance launched the SPCXUSDT perpetual futures contract on May 21, giving traders more than three weeks of pre-IPO price discovery before SpaceX shares ever hit a traditional stock exchange. Since that launch, cumulative SpaceX-linked derivatives volume across platforms exceeded $9 billion, with Binance commanding more than 60% of that market share.
The product quickly climbed to become Binance’s second-most-traded futures contract, sitting behind only BTCUSDT.
