By Isaac • June 16, 2026 10:31 am •
SpaceX priced its IPO at $135 per share and listed on Nasdaq under the ticker SPCX, targeting a valuation near $1.77 trillion. That was the headline event in traditional markets.
The bigger trading story showed up on-chain.
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Hyperliquid’s SPCX perpetual generated $1.4 billion in volume around the listing and became the largest market on HIP-3, Hyperliquid’s framework for deployable derivatives markets.
Hyperliquid ranked tenth by market capitalization in the June 16 CoinGecko selection check, behind Bitcoin, Ethereum, Tether, BNB, XRP, USDC, Solana, TRON, and Figure Heloc. The SPCX surge is a big reason the token has been moving.
SpaceX IPO fuels $1.4 billion trading frenzy on Hyperliquid as SPCX perp becomes HIP-3’s biggest market https://t.co/PkT6ed6WC5
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