SpaceX IPO update: Whale opens $22.3M SPCX long as synthetic price hits 30% premium

SpaceX’s IPO hype may fuel a strong debut, but history shows richly valued listings often struggle after the first-day pop fades.

SpaceX’s IPO is already spilling into crypto markets, where one whale has opened a $22.3 million leveraged long on SPCX, a synthetic pre-IPO perpetual contract tied to Elon Musk’s aerospace company.

Key takeaways:

The whale's position, visible on data resource Hypurrscan, shows the trader holding a 2x isolated long on "xyz:SPCX" worth about $22.29 million.

Read more