SpaceX IPO drives a trading frenzy for Hyperliquid, with SPCX perpetual daily trading reaching 1.4 billion dollars

After SpaceX went public on Nasdaq last Friday with a valuation of over $1.7 trillion, the trading volume of the HIP-3 perpetual contract SPCX related to SpaceX on Hyperliquid surged. Data shows that the trading volume of the xyz:SPCX pair reached $1.4 billion on that day, accounting for 30% of all HIP-3 trading volume. In contrast, in the three weeks leading up to 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 enthusiasm for on-chain stock-related derivatives.

From a broader perspective of the HIP-3 ecosystem, the cumulative trading volume of stock-linked perpetual contracts has exceeded $18.8 billion, significantly higher than the combined $7.66 billion of crude oil and Brent crude oil perpetual contracts. This indicates that as high-profile stocks like SpaceX enter the on-chain trading scene, platforms like Hyperliquid are becoming important gateways for crypto users to trade traditional asset exposure, with the activity of stock-related perpetual contracts surpassing that of some traditional commodity markets.