Binance's SpaceX Perpetual Contract Trading Volume Surpasses $9 Billion, Capturing Over 60% Market Share

BlockBeats News, June 16, Binance released data showing that the SpaceX perpetual contract (SPCXUSDT) has become the platform's second-largest product by trading volume, second only to the Bitcoin perpetual contract (BTCUSDT). As of June 13, the past 24-hour trading volume of SPCXUSDT has exceeded $5.6 billion, with a total trading volume covering Pre-IPO and post-listing surpassing $9 billion.

As of June 15, Binance's market share in the SpaceX perpetual contract market still exceeds 60%, ranking first on both centralized and decentralized platforms, while leading all exchanges with an open interest of $191 million.

Binance stated that SPCXUSDT was launched on May 21, shortly after SpaceX submitted its S-1 filing. Before SpaceX's listing, users could obtain price exposure to this popular private company through Pre-IPO perpetual contracts; after the listing, the product automatically transitioned to a traditional financial perpetual contract, with the Nasdaq real-time stock price as the pricing reference.

It is worth noting that after SpaceX updated its S-1/A filing and increased its total share capital, Binance became the only exchange to complete the Rebase of Pre-IPO contracts, enabling the contracts to accurately reflect the new share structure.

Binance stated that the popularity of SpaceX-related products reflects the significant demand from global retail investors for high-growth tech companies. Investors who were previously unable to participate in the Pre-IPO market or obtain IPO allocations now have a more convenient price exposure channel through perpetual contracts.