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Industry

SpaceX record IPO nears as liquidity pressure concerns emerge

Demand for SpaceX\'s initial public offering is nearing four times the offering size, fueling analysis that it is tightening liquidity in cryptocurrencies and U.S. technology stocks. Reuters, cited by Cointelegraph, reported more than $250 billion of demand as the company seeks to raise $75 billion, implying a $1.8 trillion valuation if completed. Some analysts say funds may be rotating into IPO subscriptions, though they see the move as temporary.

Crypto

Bybit launches subscription service for SpaceX IPO tokenised shares

Crypto exchange Bybit will launch a subscription service for tokenised shares tied to a SpaceX IPO, Cointelegraph reported on June 8. Bybit will use the xStocks framework from Payward, the parent of Kraken, to secure IPO allocations through SpaceX’s underwriter syndicate and then tokenise them. The tokenised shares are linked one-to-one with real shares held by a regulated broker-dealer. Trading is set to begin on Bybit’s spot market on June 12.

Crypto

Bitcoin liquidation heatmap: Reading crowded price zones before sharp drops

A bitcoin liquidation heatmap can help gauge where price volatility may increase by showing where leveraged positions are concentrated, the Crypto Basic said on June 5. The tool overlays exchange data such as open interest, leverage and margin levels on a price chart. When liquidation orders cluster at certain levels, price moves into those zones can trigger cascading liquidations. Examples cited include a February drop and large liquidations on HTX.