Add as a preferred source on GoogleSPCX Trading Volume Tops $205 Million After SpaceX Spectrum News
The Hyperliquid perpetual contract rebounded 2.27% over four hours after the Oct. 8 announcement, while open interest reached about $124 million.
Trading volume for the SPCX perpetual contract on Hyperliquid reached about $205 million over 24 hours after SpaceX announced plans to acquire Grain Management’s nationwide 800 MHz low-band spectrum portfolio.
The proposed transaction covers up to 14 megahertz of paired spectrum and still requires approval from the Federal Communications Commission. SpaceX plans to combine satellite-to-phone connectivity with terrestrial wireless networks to expand Starlink Mobile’s coverage.
The announcement came at 4:17 p.m. ET (20:17 UTC) on Oct. 8. Over the next four hours, the contract price rebounded from $160.89 to $164.54, a gain of about 2.27%.
First-hour trading volume reached roughly $23.57 million, compared with $8.58 million during the hour before the announcement. SPCX was trading at about $165.54 when the figures were recorded, while open interest stood at approximately $124 million.
The 24-hour volume reading also came alongside disclosure that Donald Trump had purchased SpaceX senior unsecured notes.
The spectrum plan follows SpaceX’s broader push into wireless connectivity. SpaceX’s spectrum deal would add mobile spectrum licenses held by Grain Management to the company’s telecommunications assets.
Enna Lee
ReporterEnna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.