$18 million in average daily volume has flowed through SpaceX-linked crypto perpetual futures since their launch this month, creating an early market for bets on the company’s eventual IPO price.
Those contracts let traders take positions months before any listing because perpetual futures have no expiry, turning IPO anticipation into a round-the-clock shadow market.
SpaceX is edging toward what could be the largest IPO in history, making the pricing in these thinly regulated crypto markets a closely watched signal of investor expectations.
Is crypto's pre-IPO market a true price forecast or a high-stakes gamble on Elon Musk's SpaceX?
With a $2T target despite huge losses, will SpaceX's IPO defy the historical curse of mega-IPOs underperforming?
Does this new crypto market democratize finance or just create an unregulated casino for retail investors?