As SpaceX IPO approaches, Polymarket, Ventuals assign $2 trillion valuation onchain

Crypto Daybook AmericasShareShare this articleCopy linkX iconX (Twitter)LinkedInFacebookEmailAs SpaceX IPO approaches, Polymarket, Ventuals assign $2 trillion valuation onchainYour day-ahead look for June 11, 2026By Omkar Godbole|Edited by Sheldon Reback Jun 11, 2026, 11:23 a.m. 3 min readMake preferred on What to know: This is an excerpt from CoinDesk newsletter 'Daybook.' Sign up here, if you haven't already.Elon Musk's SpaceX sets the price of its Friday IPO on Nasdaq later today. While the company is currently valued at roughly $1.77 trillion, blockchain-based pre-IPO price discovery derivatives and prediction markets seem to think that's too low.That gap is evident from three markets: Onchain perpetuals futures offered by Ventuals and trade.xyz, both running on Hyperliquid, and Polymarket's implied first-day close. These have all converged on the $1.8 trillion-$2.1 trillion range, according to data source Allium. Right now, traders on Polymarket, a decentralized betting platform, assign a 64% chance that SpaceX will close its first trading day above a $2 trillion valuation. A close above $3 trillion? Polymarket gives a 5% chance.In other words, the market expects a strong debut, but not a blowout. For bitcoin traders, the IPO serves as a real-world test of the dominant narrative: that the offering has been draining risk capital from crypto, contributing to the recent price decline. If that theory holds, capital should flow back into bitcoin and crypto once the IPO is out of the way and the initial allocation frenzy subsides. Stay alert! Read more: For analysis of today's activity in altcoins and derivatives, see Crypto Markets Today . For a comprehensive list of events this week, see CoinDesk's "Crypto Week Ahead."What’s trendingCorporate bitcoin buying has collapsed from $500 million per day to almost negligible (CoinDesk): Bitcoin has lost buyers on two fronts. The exodus from spot ETFs as a catalyst for the recent bitcoin price swoon is well documented. L…

As SpaceX IPO approaches, Polymarket, Ventuals assign $2 trillion valuation onchain

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