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Elon Musk's SpaceX officially began trading on the Nasdaq Global Select Market and Nasdaq Texas on June 12.
The space technology and artificial intelligence (AI) company confirmed the pricing of its initial public offering (IPO) of 555.6 million shares at an offering price of $135.00 apiece to raise $75 billion.
The deal values the company at $1.77 trillion, turning it into one of the world's most-valued companies.
Related: Elon Musk brings back his McDonald's Happy Meal offer
Crypto traders rushed to trade the SpaceX-linked contract on Hyperliquid, a decentralized exchange built primarily for perpetual futures.
The SPCX contract tracks the value of 1 share of common stock in SpaceX.
At press time, the contract was trading at $172. It had a trading volume of more than $1.1 billion and an open interest of $284 million in the last 24 hours.
As Musk rang the Nasdaq bell, a few cryptocurrencies linked to decentralized artificial intelligence (AI) projects rallied in the following hours.
Decentralized AI refers to AI systems that operate across a distributed blockchain network, rather than being controlled by Big Tech firms like Google or OpenAI. The financial transactions of these projects are paid in crypto assets.
SQD is the AI coin used in the eponymous blockchain network that is a ZK proof-secured data lake and query engine designed to offer developers performant and permissionless access to data. The coin rallied 10% in the last 4 hours to trade at $0.04042, as per CoinGecko.
TIG is an AI coin that is behind a protocol called The Innovation Game that aims to exploit computational power for real-world challenges across various fields, including AI, cryptography, biomedical research, and climate science. This coin surged around 8% in 4 hours to trade at $0.92.
AIN is the AI coin powering the Infinity Ground blockchain network built for vibe coding that creates an agent-driven development ecosystem. The token jumped more than 7% in the last 4 hours to trade at $0.1145 at press time.
COAI is the AI coin behind ChainOpera AI, a blockchain-based full-stack AI platform designed to enable collaborative intelligence through a network of AI agents and models. The token rose nearly 6% in 4 hours to trade at $0.367.
PIEVERSE is the coin powering Pieverse, an agent-native, compliant payment stack. The coin rose 5% in the last 4 hours to trade at $0.6922.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments are highly volatile and risky. Always conduct your own research before making any investment decisions.
Related: Mysterious trader opens massive SpaceX short ahead of Nasdaq debut
