Binance reports $5.6B in SpaceX derivatives, 60% market share
Binance says it processed $5.6 billion in SPCXUSDT trades in 24 hours and controls more than 60% of SpaceX derivatives volume, making SpaceX perpetuals its second-largest product.
Binance reported it handled $5.6 billion in SPCXUSDT trading volume in a single 24-hour period and now controls more than 60% of SpaceX derivatives trading across centralized and decentralized venues. The exchange said SpaceX perpetual futures are its second-largest product by volume, behind bitcoin perpetuals.
The company reported over $9 billion in cumulative SPCXUSDT volume since pre-IPO trading began. Binance recorded $167.22 million in one-sided open interest for SPCXUSDT as of June 13 at 09:00 UTC, using data from market trackers to compare its position with other platforms.
Before SpaceX listed on Nasdaq, Binance ran a pre-IPO perpetual contract and converted that contract to a standard TradFi perpetual after the listing. The exchange said price discovery during the transition used publicly available valuation signals, share-count disclosures and market expectations.
When an amended S-1 filing disclosed a higher share count than earlier filings, Binance rebased the pre-IPO contract to adjust outstanding positions and prevent dilution. Binance reported it was the only platform to perform that rebasing.
Beyond perpetual futures, Binance offers a tokenized SpaceX stock and bStock tokenized securities that let users take directional positions or hold synthetic equity exposure without owning underlying shares. The exchange said the mix of instruments supported trading from users without access to U.S. equity markets.
Shunyet Jan, Head of Spot and Derivatives Business at Binance, commented: “SpaceX derivatives have become Binance’s second-largest traded product, capturing more than 60% market share across CEX and DEX venues. Better accessibility unlocks latent demand.”
Binance also noted it lists more than 7,000 stocks and ETFs alongside its digital asset offerings. The company linked the high SPCXUSDT volume to global demand for tokenized and synthetic exposure around the SpaceX listing.
Binance reported that SpaceX closed its first trading day as the seventh-largest company by market capitalization and that the listing raised Elon Musk’s net worth to levels the exchange described as positioning him as the world’s first trillionaire.
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