The crypto stock market shuddered: SpaceX, with a market capitalization of $2.1 trillion, instantly surpassed everyone.
The debut of SpaceX (SPCX) shares caused a major earthquake in the segment of crypto-related securities. On the very first day of trading, the company's market capitalization soared to an astonishing $2.1 trillion, securing its undisputed leadership in this ranking. The price surged by an impressive 19.22%, settling at $160.95 per share.
For comparison, Tesla (TSLA), which ranks second, is valued by the market at $1.52 trillion, which is $580 billion less. The trading volume for SPCX is also notable, reaching $85.32 billion in the first hours, indicating enormous interest from both institutional and retail investors.
As for the other participants in the ranking, the situation was mixed. Brokerage platform Robinhood (HOOD) gained a modest 1.04% with a market cap of $83.92 billion. The largest corporate holder of Bitcoin, Strategy (MSTR), showed a more confident increase of 3.18%, reaching $43.45 billion. However, not all stocks closed in positive territory: shares of the exchange Coinbase (COIN) fell by 0.41% with a market cap of $42.1 billion, while the issuer of the stablecoin USDC, Circle (CRCL), became the laggard at the top of the list, losing 5.8% and dropping to $19.35 billion.
What does this mean for the market?
The instant surge of SPCX has radically changed the balance of power: one company is now worth more than all other top participants combined. This reflects the colossal demand for the most anticipated listing of the year and solidifies SpaceX as a new anchor for the entire crypto-stock segment.
Cryptalist Analytical Summary: It is worth remembering that this is only the first day of trading with minimal free float and extreme volatility. The real test for such a high valuation will come in the next few sessions, when the supply of shares on the market increases. For now, SpaceX demonstrates that a connection to space and innovation can be an even more powerful driver for crypto investors than classic blockchain assets.