SpaceX stock market debut leads to record volumes on crypto exchanges

The stock market debut of SpaceX on the Nasdaq is a historic day for Elon Musk’s space company. After the opening bell, the SPCX share started at $150 per share and closed the first trading day nearly 19% higher. This pushes the company’s valuation above $2 trillion. But the enthusiastic response is not limited to traditional financial markets. In the crypto world too, demand for SpaceX is enormous.

On the first trading day, more than 490 million shares were traded. According to research by Vanda Research, SPCX immediately became the most bought stock among retail investors, with net purchases more than 3.5 times those of Nvidia.

SpaceX on Gate: $100 million on day one

Crypto exchanges that listed the SPCX ticker early are seeing large volumes immediately. On Gate, which offers tokenised shares, trading volume in SPCX reached more than $100 million on the first day. By comparison, the volumes for Circle and Tesla on the same day were $4 million and $3.5 million respectively. These figures show how much interest crypto investors have in this stock market debut.

This fits a broader trend visible on Gate. Daily trading volumes for equity-related tickers typically range between $10 million and $25 million. The peak of more than $120 million visible on the CryptoQuant chart therefore stands in stark contrast to previous peaks and illustrates the exceptional demand for SPCX.

Bridge between crypto and traditional markets

Platforms like Gate are playing an increasingly important role as a crypto exchange that moves into traditional financial products. By offering tokenised shares, investors can gain exposure to listed companies without leaving their familiar crypto environment. Based on the volumes, this approach clearly appears to resonate with a broad group of investors.

SpaceX is attracting attention on multiple fronts in the crypto world. For instance, SpaceX also holds $13 billion in Bitcoin, making it the eighth largest corporate holder in the world. Earlier, the pre-IPO allocation caused setbacks on major crypto exchanges, but that setback now seems completely forgotten as the stock opens so strongly. The combination of a spectacular market debut and massive crypto trading makes it clear that the border between the two worlds is increasingly blurring.