SPCX Slides 47% From Peak, Triggering $4.97 Million in Long Liquidations on Hyperliquid
Summary
- SPCX fell about 46.8% from its post-listing high of $225.64.
- SPCX dropped below its $135 IPO price and traded about 25.4% below its first-day closing price.
- Amid the decline, 38,896.4 SPCX long positions were liquidated, with cumulative liquidation value of $4.9723 million and realized losses of $599,700.
Forecast Trend Report by Period
SPCX has slumped nearly 47% from its post-listing high a little more than a month after its debut, triggering a string of long liquidations.
BlockBeats, a crypto-focused media outlet, reported on July 17, citing Hyperinsight data, that SPCX's decline intensified this week.
SPCX briefly fell below its $135 IPO price on July 15 for the first time since listing and closed that day at $135.27. The decline continued on Thursday, with weakness extending into after-hours trading.
The token briefly slipped below $120 on Friday morning before rebounding and was trading around $126.2. That was about 11.1% below its $135 offering price at one point and roughly 25.4% lower than its first-day closing price of $160.95.
Compared with its post-listing high of $225.64, SPCX was down about 46.8%.
Amid the extended decline, two investor wallets holding SPCX long positions were liquidated from regular US trading through after-hours trading the previous day. A total of 38,896.4 SPCX were liquidated, with cumulative liquidation value reaching $4.9723 million. Realized losses totaled $599,700.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.