TechFlow News, July 02, according to Hyperinsight monitoring, SpaceX (SPCX) continues its correction, falling over 10.3% in a single day on the Hyperliquid platform, currently trading at $156.93, retracing about 22% from the historical high of $225.64 on June 16. Trading volume in the past 24 hours reached $338 million, open interest reached $178 million, making it the single-stock asset second only to Micron and SK Hynix.
On the news front, this decline is part of the AI supply chain sell-off triggered by Meta Compute; its extremely thin public float (only about 4–5%) amplifies selling pressure. Coupled with high valuation and concerns over the upcoming 20% unlock, this may offset the positive catalyst of joining the Nasdaq on July 6.
This thin float structure amplifies the influence of crypto market capital on it. Within the past trading day, total trading volume of SPCX-related contracts in the crypto market reached $2.4 billion. Compared to SpaceX's trading volume of $16.2 billion on Nasdaq during the same period, crypto market volume (including leverage) is equivalent to approximately 14.8% of that.
Among on-chain large position holders, the long average price is about $164.16, short about $166, overall already underwater. The most affected is the largest long position on SPCX on the Hyperliquid platform.
This whale is currently long 86,748.6 contracts with 10x leverage, with a position size of $13.62 million, average price about $164, liquidation price $148, only about 5.7% away from the current price, unrealized loss $370,000 (-37.5%).
