SpaceX perpetual futures turnover hits $6 billion after earnings
- —SPCX perpetual turnover on Binance and Hyperliquid reached about $6 billion
- —Volume was more than eight times the prior day's level
- —Binance open interest fell about 8% after earnings
- —Binance's SPCX perpetual gained 8.5% from the earnings print to the US open
Why it matters: Surging turnover alongside falling open interest signals traders closed positions rather than adding exposure to SpaceX.
Source: CryptoSlate