SpaceX tokenized IPO campaign draws $557M on Binance ahead of debut
Binance’s SpaceX tokenized IPO campaign drew more than $557 million in USDC from about 27,689 wallet addresses, signaling strong crypto demand for pre-IPO exposure. Most participants were small wallets: addresses contributing up to $20,000 made up over 81% of wallets but only 18.39% of deposits, while 114 wallets above $500,000 supplied about 10.2% of funds. The flows came ahead of SpaceX’s planned Nasdaq debut, with the company aiming to raise $75 billion at $135 a share, implying roughly a $1.8 trillion valuation. Crypto pre-IPO markets are already pricing higher: Hyperliquid SpaceX perps recently traded around $179 to $200, implying a valuation near $2.5 trillion, and Polymarket bettors mostly expect a $2 trillion to $2.5 trillion market cap after day one. Talos said crypto exchanges are emerging as a venue for pre-IPO price discovery, and more platforms, including OKX, are launching SpaceX-linked products.
