Hyperliquid's SPCX perpetual contracts saw $1.4 billion in trading volume on their first day of SpaceX's IPO.

CoinFeed reported on June 16th that, according to The Block, SpaceX listed on Nasdaq last Friday with a valuation exceeding $1.7 trillion. On that day, the trading volume of SPCX perpetual contracts on Hyperliquid reached $1.4 billion, accounting for 30% of the total trading volume of HIP-3 contracts. In the previous three weeks, the average daily trading volume of SPCX was only $26 million. In the first half of June, the total trading volume of equity-linked perpetual contracts exceeded $18.8 billion, while crude oil and Brent crude oil contracts combined totaled $7.66 billion. As the HIP-3 market has become a 24-hour hedging and speculation venue outside of the US stock market's cash trading hours, its market share has shifted from commodity perpetual contracts, which dominated in the first quarter, to equity perpetual contracts. Trade.xyz drives a significant share of HYPE repurchase fund flows through fee distribution.