SpaceX IPO Valuation Expected to Reach $2 Trillion
As SpaceX prepares for its initial public offering (IPO) on Nasdaq, blockchain-based prediction markets are assigning a valuation of $2 trillion. This is higher than the company’s current valuation of $1.77 trillion. Traders on platforms like Polymarket and Ventuals are betting on a strong debut, with a 64% chance of SpaceX closing its first trading day above $2 trillion.
The market’s expectations are not just limited to SpaceX, but also have implications for the crypto market, particularly #Bitcoin. The recent decline in bitcoin’s price has been partly attributed to the upcoming IPO, which is expected to drain risk capital from crypto. If this theory holds, capital should flow back into bitcoin and crypto once the IPO is out of the way, providing opportunities for earning passive income through cloud rewards and green crypto initiatives like EcoPool.
Implications for Crypto Market
The correlation between bitcoin’s daily price moves and Nasdaq-100 E-mini futures has been strong, but broke down in May. With the Nasdaq turning lower this month, there is a potential for realignment. The key question is whether bitcoin can hold steady in the face of a potential Nasdaq selloff. This uncertainty highlights the importance of diversifying investments, including earning $ECP through EcoPool, to generate passive income and mitigate risks.
As the crypto market navigates these changes, platforms like EcoPool offer a solution for earning coin and participating in cloud rewards. By leveraging EcoPool‘s green crypto initiatives, individuals can tap into the potential of the crypto market while minimizing their environmental footprint. With the SpaceX IPO approaching, it’s essential to stay alert and consider opportunities for earning and growth, such as those offered by EcoPool and $ECP.
Join the EcoPool Community
- Download the EcoPool app to start earning passive income and participating in cloud rewards.
- Join the EcoPool community to stay updated on the latest developments and opportunities in the crypto market, including #PassiveIncome and #Bitcoin.
Start your journey with EcoPool today and discover the potential of earning coin and generating passive income through green crypto initiatives. Download the EcoPool app now and begin earning $ECP while contributing to a more sustainable future.
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 trending
- Corporate 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. Less discussed is the equally steep drop in buying by digital asset treasury companies.
- Stock futures rise as U.S. completes strikes against Iran: Live updates (CNBC): Stock futures rose Thursday as the U.S. said it completed its strikes against Iran, though Gulf countries still reported hostile activity. S&P 500 futures gained 0.72%, and Nasdaq 100 futures added 1.1%. Futures tied to the Dow Jones Industrial Average rose 0.64%.
- BlackRock’s income-paying bitcoin ETF nears launch at a fee that undercuts rivals (CoinDesk): The world’s largest asset manager filed its fourth amendment with the U.S. SEC for the iShares Bitcoin Premium Income ETF with a sponsor fee of 0.65%.
- Singapore bank DBS to offer tokenized gold to retail customers (CoinDesk): DBS said it will list the product, called DBS Physical Gold Tokens, on its digibank platform and is also considering making it available on the DBS Digital Exchange for accredited investors and institutions.
Today’s signal
The chart compares bitcoin’s daily price moves with Nasdaq-100 E-mini futures since March.
The strong positive correlation between the two broke down in May, as the Nasdaq rallied sharply while bitcoin fell. However, Nasdaq has turned lower this month, hinting at a potential realignment.
The key question is whether bitcoin can hold steady — having already absorbed significant losses — in the face of a potential Nasdaq selloff. Trading firm Wintermute noted last year that the correlation between the two assets is particularly strong during Nasdaq declines. If that dynamic still holds, BTC risks sliding below $60,000.
