On-chain Whale Makes Large Bet Against SpaceX Implied Valuation, Entering Million-dollar Short Position with 85.7% Bearish Sentiment

BlockBeats News, June 9th, according to Hyperinsight monitoring, today, there are a total of 7 whales holding million-dollar positions on Hyperliquid, with 6 of them being short positions, accounting for approximately 85.7% of the total. These large investors generally believe that SpaceX will have a challenging time achieving a $2 trillion valuation upon its listing.

Two new short positions opened today have quickly risen to the first and second place in the position rankings. Currently, the top four positions are all held by short sellers, indicating a strong bearish sentiment.

Hyperliquid's SPCX is currently trading at $156, a 6.1% decline over the past 24 hours. Based on a fully diluted reference share count of approximately 11.87 billion shares for SpaceX, this price corresponds to a market capitalization of around $1.85 trillion. The trading volume of this contract has already exceeded $100 million today.

It is reported that SpaceX is expected to debut on the Nasdaq with a valuation of around $2 trillion, with the listing date set for June 12th, only 3 days away from today.