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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
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Sign InTraders have pushed SpaceX's valuation above the $2 trillion mark in the pre-IPO perpetual futures market, which officially launched on May 17 via Trade.xyz. This milestone has fueled a 7% rally in Hyperliquid’s HYPE token, significantly outperforming broader crypto market trends. The surge reflects intense investor demand for synthetic exposure to the aerospace giant’s private equity.
The jump to a $2 trillion-plus valuation marks a significant leap from the $150 billion valuation recorded in mid-2023 (per Bloomberg reports). Per market data, this growth underscores Hyperliquid's emerging dominance in niche private equity derivatives, positioning it as a key competitor to platforms like GMX and Polymarket in capturing specialized liquidity.
Regarding price action, HYPE remains at elevated levels as of the May 18, 2026 close, with market participants monitoring support levels following the SpaceX valuation breakthrough. Looking ahead, investors are focused on the US Existing Home Sales data scheduled for May 11, 2026, as a potential catalyst for broader market risk sentiment.
Update: New reports indicate that Hyperliquid has consistently outperformed Ethereum and Solana in weekly blockchain fee generation, driven by robust perpetual futures activity. Furthermore, Bitwise has announced plans to integrate the HYPE token into its balance sheet, utilizing fees generated from its Hyperliquid ETF.
Update: Open interest for Real World Assets (RWA) on Hyperliquid reached a record high of $2.6 billion as of May 18, 2026. Market data shows that liquidity is heavily concentrated in instruments deployed by TradeXYZ, which account for $2.14 billion of the total open interest.
Update: Hyperliquid’s fundamental outlook strengthened as its weekly fees surpassed those of Ethereum and Solana, signaling record network activity. Furthermore, Bitwise announced plans to hold HYPE on its balance sheet via ETF fees, marking a significant shift toward institutional adoption beyond speculative pre-IPO trading.
Update: Bitwise has committed to deploying 10% of its Hyperliquid ETF management fees to purchase and hold HYPE tokens on its balance sheet, creating a new structural demand catalyst. This move follows the successful debut of the HYPE ETF last week, which ranked as one of the year's top-performing altcoin ETF launches.
Update: The HYPE token extended its gains to surpass the $47 level (May 18, 2026 close) following the debut of a $4.3 million Bitwise HYPE ETF. This launch triggered a short squeeze, allowing the token to decouple from a broader market sell-off that saw Bitcoin drop below $77,000.
Update: The SpaceX perpetual contract saw immediate momentum following its launch on Hyperliquid, with the price spiking to $216 within hours of trading. This rapid price action reflects strong trader demand for pre-IPO exposure to the aerospace company.