Back

SpaceX-linked SPCX drops 10.3% as July 2 selloff cuts Musk stake value

The Hyperliquid-traded token fell to about $156, roughly 22% below its June 16 high, while BlockBeats cited Arkham data showing a $109.8 billion paper decline in Elon Musk’s SpaceX stake.

HYPE

Summary

SpaceX-linked SPCX extended its July 2 retreat, falling more than 10.3% on Hyperliquid to about $156-$156.93 and leaving the token roughly 22% below its June 16 record of $225.64. Hyperinsight attributed the move to AI supply-chain selling tied to Meta Compute, a thin 4%-5% public float, valuation pressure and concerns over a 20% unlock. Separately, BlockBeats, citing Arkham data, said Elon Musk’s SpaceX stake recorded a $109.8 billion mark-to-market paper loss over 24 hours after a $20 per-share valuation drop, though the stake was still valued at about $856 billion based on 5.49 billion shares at roughly $156 per share.

Terms & Concepts
  • paper loss: An unrealized decline in asset value based on current pricing rather than a completed sale.
  • public float: The portion of tokens or shares available for public trading, which can affect liquidity and volatility.
  • liquidation: Forced closure of a leveraged position after losses, which can amplify price moves.