Whale Opens $3.52M Short on SPCX via Hyperliquid on June 12, Betting on Post-IPO Price Pullback

According to BlockBeats citing Hyperinsight, on June 12, a whale opened a $3.52 million short position on SPCX with 3x leverage on the Hyperliquid platform, marking the largest single trade on the platform today. The position was entered at an average price of $177.7 (corresponding to a market cap of approximately $2.32 trillion) with a liquidation price of $222.

The trade comes as SpaceX prepares for its NASDAQ listing at an IPO price of $135 per share. The whale's short entry reflects an expectation that after the initial real-time matching begins at 9:30 PM Beijing time on June 12, market pricing may revert toward the IPO price, with valuations falling below the current $2.32 trillion mark.