SpaceX's crypto-traded IPO was sharply falling. It now points upward to a $2.4 trillion valuation
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- SPCX rebounded on Hyperliquid to $176‑$183 on Friday after hitting a low near $153 earlier in the week.
- SPCX at $183 implies a 36% premium to SpaceX’s $135 IPO price, up from 16% on Wednesday and below the May peak of ~60% when trading near $216.
- IG International derivatives implied a SpaceX valuation of about $2.4 trillion, more than 35% above the IPO‑based $1.77 trillion valuation.
- Polymarket traders placed 70% odds on SpaceX closing its first trading day above $2 trillion.
- Hyperliquid’s SPCX is a cash‑settled derivative with no share allocation rights, but its open interest was near $216 million and 24‑hour volume exceeded $150 million.
- Blockchain‑based prediction markets now let retail investors bet on the SpaceX IPO with minimal capital, providing 24/7 price discovery.
Why it matters: Retail investors now see a 36% premium on SpaceX’s IPO through the SPCX derivative, gaining a low‑cost, 24/7 way to bet on the stock, while traditional private‑equity participants lose their pricing edge as shadow markets close the discount gap and shift market dynamics.
