Binance Captures 60% of SpaceX Derivatives Market as Trading Volume Surges

• The perpetual futures contract for SpaceX became the second most traded asset on Binance.
• With the addition of SpaceX stock and bStock tokenized securities, Binance provides its customers with more alternatives for portfolio diversification and hedging.

Binance establishes itself as the dominant liquidity venue for the product by capturing more than sixty percent of the market share for SpaceX derivatives trading across both centralized and decentralized exchanges.

The SpaceX perpetual futures (SPCXUSDT) have become the second-largest traded product on Binance, behind Bitcoin perpetuals. This is a reflection of the tremendous demand that exists around the globe for exposure to important public-market events.

With the addition of SpaceX stock and bStock tokenized securities, Binance provides its customers with more alternatives for portfolio diversification and hedging.

Featured highlights

Because of the huge demand from investors all around the world for exposure to SpaceX’s public market debut, the perpetual futures contract for SpaceX became the second most traded asset on Binance. More than sixty percent of the market share for SpaceX derivatives trading was secured by Binance across CEX and DEX platforms.

As of the 13th of June at nine o’clock in the morning UTC, the trading volume of SPCXUSDT on Binance was above $5.6 billion during the previous twenty-four hours (Coinglass, CoinMarketCap). In terms of SPCXUSDT Open Interest, Binance is in the lead among all CEX and DEX venues, with a total of $167.22 million (one-sided count).

Over nine billion dollars’ worth of aggregate SPCXUSDT trading activity was reported by Binance spanning SpaceX’s pre-IPO and post-public listing on Nasdaq.

Following SpaceX’s Nasdaq offering, Binance was able to effectively transition the Pre-IPO Perpetual into a conventional TradFi Perpetual. This was accomplished with orderly price discovery that was anchored to publicly accessible valuation signals, share-count data, and market expectations.

Binance was the only exchange that was able to effectively rebase the SpaceX Pre-IPO Perpetual contract after SpaceX announced a higher share count in its S-1/A filing. This was done to guarantee that customers were not adversely affected by dilution. The public listing of SpaceX was one of the market events that got the greatest attention from people all around the world.

Currently, Binance provides users with the ability to trade over 7,000 equities and exchange-traded funds (ETFs), in addition to a wide variety of digital assets. This brings the company closer to realizing its goal of a multi-asset financial super app that links users to opportunities in global markets.

An industry-leading global blockchain ecosystem, Binance is the driving force behind the biggest cryptocurrency exchange in the world in terms of trading volume and registered users. Through its industry-leading security, transparency, trading engine speed, protections for investors, and unmatched portfolio of digital asset products and offerings, including trading and finance, education, research, social good, payments, institutional services, and Web3 features, Binance has earned the trust of more than 320 million people in more than one hundred countries. Through the use of cryptocurrency as the primary mechanism, Binance is committed to developing an ecosystem that is inclusive of cryptocurrencies in order to expand the freedom of money and access to financial resources for people all over the globe. For more details, please visit the website at https://www.binance.com.

Disclaimer: The prices of digital assets are subject to fluctuations. It is possible that the value of your investment may increase or decrease, and it is also possible that you will not get the amount that you initially invested. Binance is not responsible for any losses that may be incurred as a result of your investing choices; you are entirely responsible for making such decisions. There is a significant level of market risk and price volatility associated with TradFi Perps, especially outside of the typical market hours. There is a possibility that the share price will never reach the Final IPO Price in relation to Pre-IPO Perps that are subject to transition to TradFi Perp. This is because there is a possibility that there will be unique price volatility after the formal listing of the Underlying Asset.

There is a possibility that you may be required to make further margin deposits or interest payments within a short period of time. In the event that the mandatory margin deposits or interest payments are not paid within the amount of time that has been prescribed, your collateral may be liquidated. In addition, you will continue to be responsible for any deficit that may occur in your account as well as any interest that may be imposed on your account. If the price moves in an unfavorable direction, it is possible that your whole margin balance may be liquidated. When it comes to predicting future performance, past performance is not a good indicator. In the context of the relevant underlying asset, TradFi Perps do not indicate ownership of the asset. You should conduct an independent evaluation of the suitability of the transaction before engaging in trading.

This evaluation should take into account your personal goals and circumstances, as well as the potential risks and rewards of the possible transaction. When necessary, you should seek the advice of your own advisors. The material presented here should not be considered as advice dealing with finances or investments. Please visit our page on Responsible Trading to get further information on how to safeguard yourself. For more information, see our Terms of Use, Exchange Rules, Clearing Rules, Exchange Procedures, Clearing Procedures, relevant Contract Specifications  and Risk Warning.