SpaceX IPO drives Hyperliquid trading frenzy, SPCX perpetual daily volume reaches $1.4 billion

Odaily Planet Daily reported that after SpaceX was listed on the Nasdaq last Friday with a valuation of over $1.7 trillion, the trading volume of the SpaceX-related HIP-3 perpetual contract SPCX on Hyperliquid surged. Data shows that the daily trading volume of the xyz:SPCX trading pair reached $1.4 billion, accounting for 30% of all HIP-3 trading volume that day.

In comparison, during the three weeks before the SpaceX IPO, the average daily trading volume of xyz:SPCX was only about $26 million, indicating that the IPO event significantly amplified the trading activity of on-chain stock-related derivatives.

Looking at the broader HIP-3 ecosystem, the cumulative trading volume of stock-linked perpetual contracts in the first half of June has exceeded $18.8 billion, significantly higher than the combined $7.66 billion of crude oil and Brent crude oil perpetual contracts.

This shows that as high-profile stocks like SpaceX enter the on-chain trading landscape, platforms such as Hyperliquid are becoming key gateways for crypto users to gain exposure to traditional assets, with the activity of stock-class perpetual contracts surpassing that of some traditional commodity markets.