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SpaceX-linked SPCX extends slide below $150 as Hyperliquid volume tops $1 billion

SpaceX-linked SPCX extends slide below $150 as Hyperliquid volume tops $1 billion

SPCX fell from around $176 to as low as $148.72, slipping under a cited $150 opening benchmark as Hyperliquid perpetual volume surged and tokenized spot trading reached $57 million.

HYPE

Fact Check
Every specific figure in the claim is confirmed by the primary sources. BlockBeats flash 352369 and Odaily 492818 confirm SPCX at ~$176 ($175.94 pre-market, $176.24 platform) on June 22. BlockBeats flash 352450, citing Hyperinsight, confirms Hyperliquid SPCX 24H volume of ~$102 million, the ~21% decline from the first-week peak, and the $21.03 million 3x short position. Investors.com independently corroborates SPCX as a SpaceX pre-IPO product traded on Hyperliquid. The figures are internally consistent and precisely matched.
Summary

SpaceX-linked SPCX continued to weaken, dropping from around $176.24 on June 22 to below $150, with one later quoted price at $148.72. The SPCX perpetual contract on Hyperliquid, identified in the reports as linked to Trade.xyz, saw 24-hour trading volume rise from about $102 million to more than $1 billion, while Coinglass data showed liquidations above $76 million, at one point ranking the contract third in crypto derivatives liquidation volume. In spot-style markets, tokenized SPCX issued by Backpack and Sunrise reached $57 million in 24-hour volume and also traded below $150. Hyperinsight said the perpetual had fallen about 1.58% over 12 hours, was down 21% from its first-week peak, and had dropped below its first-day opening level; a separate post described the move as falling under a stated $150 opening benchmark.

Terms & Concepts
  • Hyperliquid: A crypto trading platform focused on perpetual derivatives trading.
  • liquidations: Forced closure of leveraged positions after losses breach margin requirements.
  • perpetual futures: A derivatives contract with no expiry date.