Binance takes over 60% share of SpaceX perpetual futures as valuation briefly hits $3T

Binance’s SpaceX perpetual contract SPCXUSDT has captured more than 60% market share, with $5.6 billion in 24-hour trading volume and more than $9 billion in total turnover. The product launched after SpaceX filed an S-1 and later shifted to real-time pricing linked to Nasdaq once the company listed. Although the IPO process was later paused, SpaceX’s valuation briefly touched $3 trillion, drawing heightened retail interest. The activity underscores rising expectations around a SpaceX listing, even though SpaceX had not actually gone public and the contract is not direct trading in a traditional listed stock.