SpaceX Feels Expensive At $1.8 Trillion? 85% Of Hyperliquid Traders Are Still Long
SpaceX will launch at a $1.8 trillion valuation on Nasdaq on Thursday, yet traders on Hyperliquid are pricing the company as high as $2.15 trillion in pre-IPO perpetual contracts.
85% Of Hyperliquid Traders Are Long But 78% Are Currently Losing
Of the 4,528 traders holding open positions on Hyperliquid’s SpaceX contract, 3,865 are long and 663 are short, an 85 to 15 ratio.
Despite that bullish lean, 78% of all position holders are currently underwater, with only 1,001 of 4,528 traders in profit. More than $450 million in notional volume has traded across 917,000 trades in just three weeks.
The biggest short positions belong to institutional names. Cumberland sits second with a $3.1 million short, with three other large shorts ranging from $2.5 million to $4.5 million.
Pre-IPO perpetual volume on Hyperliquid, as measured by Hyperliquid Strategies Inc (NASDAQ:PURR), …
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