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cryptoJun 12, 2026, 3:01 PM

Binance Captures 57% of Pre-IPO Perpetual Market, SpaceX Leads Assets

According to CoinMarketCap Research, Binance accounted for 57% of the $2.94 billion total trading volume in pre-IPO perpetual contracts over the past 30 days, with SpaceX alone representing 67% of the overall volume.

QNTUSD

Binance dominated the pre-IPO perpetual market with $1.68 billion in volume, capturing 57% of the $2.94 billion total across exchanges over the past 30 days. OKX ranked second at $734 million (24.9%), followed by perp-DEX Hyperliquid at $237 million (8.1%), Bitget at $147 million (5%), and MEXC at $107 million (3.6%). Together, Binance and OKX accounted for roughly 85% of the turnover.

SpaceX was the most popular pre-IPO asset, generating $1.97 billion in perpetual volume, or 67% of the total. Quantinuum (QNT) came next at $385 million, outpacing OpenAI ($311 million) and Anthropic ($281 million).

Analysts note that Hyperliquid originally created the pre-IPO perpetual market but lost 88% of its market share within a month after Binance and OKX launched competing products in May.

Source: ForkLog