Binance Controls More Than 60% of SpaceX Perpetual Futures Market
Summary
- Binance was reported to be leading trading in SpaceX perpetual futures, with a market share of more than 60%%.
- Investor interest surged after SpaceX's US stock market listing, driving a rapid expansion in related derivatives trading.
- The market sees the AI and space industries as emerging investment themes, with some capital partly diverting demand away from cryptocurrencies such as Bitcoin.
Forecast Trend Report by Period
Crypto exchange Binance holds more than 60% of the SpaceX perpetual futures market, according to Walter Bloomberg.
Walter Bloomberg reported on June 15 that Binance accounted for more than 60% of trading in SpaceX perpetual futures, making it the leading venue for the related derivatives market.
The increase appears to reflect a sharp rise in investor interest following SpaceX's recent US stock market listing, which has rapidly expanded trading in related derivatives.
Binance, the world's largest crypto exchange, has absorbed most of that volume thanks to its deep liquidity and broad user base.
Market participants say demand for related products is increasing as the space industry, including SpaceX, emerges alongside artificial intelligence as a major investment theme.
Some market participants also say money flowing into AI and space-related industries is diverting part of the investment demand that might otherwise go to cryptocurrencies such as Bitcoin.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
