Solana news: Tokenised SpaceX Stocks Lead Solana DEX Trading After Landmark IPO
Tokenised SpaceX Stocks Surge on Solana
Following SpaceX’s historic initial public offering (IPO) on Nasdaq, tokenised versions of SpaceX shares have become the most traded stock tokens on Solana-based decentralised exchanges (DEXs). Three separate issuers—Backpack Securities, xStocks, and Pre-Stocks—now offer SpaceX tokens, each tracking the underlying equity.
Trading Volumes and Issuer Details
- Backpack Securities’ SPCX token led with $37.8 million in 24-hour trading volume.
- xStocks’ SPCXx followed with $6.75 million, and Pre-Stocks’ SPACEX recorded $2.66 million.
- Backpack’s SPCX is backed 1:1 by SpaceX shares, redeemable for the actual stock.
- xStocks’ SPCXx is available on Fluxion and Merchant Moe, with native minting and live pricing via Atomic RFQ.
Other tokenised equities also saw significant activity, including SP500 tracker SPYx ($12.6 million), Circle’s CRCLx ($4.93 million), and Tesla’s TSLAx ($4.22 million). In total, Jupiter DEX hosted 421 stock tokens with $77.7 million in daily volume from over 16,000 traders.
Liquidity and Market Structure
Market observers note that beyond trading volumes, the consolidation or fragmentation of liquidity across issuers is a key metric. Factors such as issuer structure, redemption rights, and proof of backing are increasingly important for tokenised stock products.
SpaceX’s Record IPO
SpaceX’s IPO, priced at $135 per share, raised approximately $75 billion and valued the company at around $1.75 trillion. The share price surged 27% on the first day, significantly increasing the company’s valuation and Elon Musk’s net worth.
Why This Matters for Solana and the UK
The rise of tokenised equities on Solana demonstrates the network’s growing role in digital asset innovation. For UK investors and builders, this trend highlights opportunities to access global equities via blockchain, while also raising questions about regulatory frameworks and investor protections in the UK market.
