Binance Commands More Than 60% of SpaceX Perpetual Futures Market
Forecast Trend Report by Period
Cryptocurrency exchange Binance has captured more than 60% of the market for SpaceX perpetual futures.
Walter Bloomberg reported on June 15 that Binance accounted for more than 60% of trading in SpaceX perpetual futures, underscoring its dominance in the related derivatives market.
The surge comes as investor interest in SpaceX has jumped following the company’s recent US stock-market listing, driving rapid growth in trading tied to the name.
Binance, the world’s largest cryptocurrency exchange, has absorbed most of that volume, buoyed by 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 investors also say capital flowing into AI and space-related industries is diverting part of the demand that might otherwise have gone into cryptocurrencies such as Bitcoin.
