Key Takeaways:
Binance Futures will list a perpetual contract tied to SpaceX (Nasdaq: SPCX) on July 20 at 09:00 UTC, settling against the Trump-backed USD1 stablecoin with leverage of up to 25x.
The product is a USDⓈ-M perpetual contract that uses USD1 as its settlement asset, the exchange said. The contract will trade 24 hours a day with a minimum order of 0.01 SPCX and a tick size of 0.01.
Funding payments will occur every eight hours, with the rate capped between +1.00% and -1.00%. The contract supports Multi-Assets Mode, allowing eligible users to post various collateral types. Binance previously offered SpaceX pre-IPO perpetual futures before the company went public on June 12.
The listing bridges traditional equities with crypto derivatives on the world's largest exchange by volume, potentially driving significant trading activity while boosting adoption of USD1. SpaceX stock ended Thursday at $131, down 3%, marking its fifth consecutive losing session and bringing it back to its $135 IPO price for the first time since the record $75 billion listing.
The selloff in SPCX accelerated after SpaceX canceled the 13th test flight of its Starship rocket due to a booster problem, with no updated launch date provided. The stock has fallen 29.73% over the past month, erasing all post-IPO gains that briefly pushed the company past a $2 trillion valuation.
The Binance contract launch comes as SpaceX faces valuation skepticism from some analysts. CFRA opened coverage at $115, below the current trading price, while Raymond James analyst Brian Gesuale maintains an $800 target implying roughly 491% upside. The average Wall Street target sits at $242.22, representing 79% upside from current levels.
This article is for informational purposes only and does not constitute investment advice.
