Backpack Says Tokenized SpaceX Security (SPCX) Tops $80 Million in Weekend Trading

Backpack said its tokenized SpaceX security (SPCX) generated more than $80 million in trading over the Oct. 10-11 weekend, when U.S. stock markets were closed, showing activity in a share-linked token outside regular exchange hours.

SPCX is a tokenized security on Solana that can be converted one for one with a share held through Backpack Exchange. That structure differs from perpetual futures, which provide price exposure without requiring ownership of the underlying shares.

A separate token, SPCXx, had $7.97 million in rolling 24-hour volume at 1:35 a.m. ET Oct. 10 and $6.15 million at 1:35 a.m. ET Oct. 11, a 22.8% decline. The first period included Friday’s U.S. trading session; the later period fell fully on the weekend.

The SPCXx readings cover two rolling 24-hour periods, while Backpack’s figure describes trading over the Oct. 10-11 weekend. They concern separate tokens and different measurement windows, so the decline in SPCXx volume does not show a change in SPCX’s weekend trading.

A prior SPCX volume reading put 24-hour onchain activity at $108 million on June 12, SpaceX’s IPO day. That one-day measurement covers a different trading period and cannot be compared directly with the weekend total.

A separate eight-week measure on Hyperliquid put 65.1% of equity and index perpetual-futures notional volume outside cash-session hours, while 11.5% fell on weekends. The 65.1% figure covers all activity outside the cash session; it does not mean that 65.1% occurred on weekends. Those percentages describe derivatives trading, not volume in SPCX.