SpaceX IPO demand spike collides with $180B+ weekly crypto drawdown
SPCX pre-IPO perps drew $2.1B on Binance in 18 days and $115M+ OI on Hyperliquid ahead of expected Thursday pricing.
SPCX pre-IPO perps drew $2.1B on Binance in 18 days and $115M+ OI on Hyperliquid ahead of expected Thursday pricing.
Carlos Domingo pointed to NYSE and Computershare partnerships as steps toward on-chain equity trading and settlement.
The effort is framed around avoiding limits on decentralized stablecoin use on public blockchains.
The note ties higher-for-longer rates to equity stress even as global M2 nears $122.6T and stablecoin reserves sit around $72B on exchanges.
The product targets applicants denied unsecured credit and keeps sequestered USDC on Coinbase earning yield.
Galaxy cut its 2026 passage odds to 60% and warned the pre–August recess window effectively closes in late July.
Tokenized stocks rose 422% while bonds and money market funds added $6.5B even as crypto sold off in early June.
The note spotlights $1.06B annualized fees, $220B 30-day perp volume, and $2B+ in cumulative HYPE repurchases since Jan. 2025.
Cohort flows show mixed positioning while downside frameworks still map sub-$60,000 zones.
SoSoValue data shows redemptions clustered early in June, with IBIT alone at about $1.34B of the week’s net outflows.
Yuga CEO Michael Figge said the assets are in company custody and will be returned once a solution is finalized.
Key levels cluster at $59.1K support and a $72.5K upside imbalance as CPI/PPI and oil above $95 add volatility risk.
CME FedWatch shows markets pricing a December 25 bp hike as bitcoin rebounds toward $63,000.
The new contracts track a four-week BTC volatility gauge and arrive as CME reports higher crypto-derivatives activity year-on-year.
BTC traded near $62,153 versus Strategy’s stated $75,701 average cost as shareholders face a 50% turnout threshold Monday.
A Coinotag live panel alongside the proposal showed a 24-second ZEC/USDT range of $419 to $336.82 and negative perp funding.
The exchange tied the move to an apparent issuer-level freeze it says was triggered by UK sanctions compliance.
ETF outflows, Strategy’s first BTC sale in nearly four years, and renewed rate-hike fears tightened risk appetite.
Polymarket’s 2025 volume was estimated at $22B–$40B, with three sports contracts topping $730M combined.
Strategy and Bitmine were cited as examples of paper gains evaporating during a broader crypto price slide.