Decentralized exchange Hyperliquid now offers synthetic pre-IPO trading for SpaceX, aiming for a $1.8 trillion valuation in 2026. Its native HYPE token recently hit an all-time high, buoyed by this news and a Goldman Sachs investment. The question remains whether this momentum can be sustained as the broader market cools.
The decentralized crypto exchange Hyperliquid is offering pre-IPO trading for SpaceX through a synthetic derivative contract. This offering tracks SpaceX’s suggested share price and requires no brokerage account or investor accreditation.
SpaceX reportedly aims for a valuation of $1.8 trillion following its initial public offering on June 12, 2026. This novel access to pre-IPO markets is a significant development for retail crypto investors.
The exchange’s native token, HYPE, reached a new all-time high of $64.27 on May 24, 2026. According to CoinGecko data, HYPE’s price has risen by 3.2% in the last 24 hours and 37.6% over the past week.
The token’s rally began before the SpaceX pre-IPO offering announcement, following the launch of spot ETFs. Furthermore, Goldman Sachs disclosed a position in a Hyperliquid-related firm, purchasing 654,630 shares of Hyperliquid Strategies Inc. (PURR) worth around $3.3 million.
Investor interest in the SpaceX pre-IPO offering and the HYPE spot ETF could support continued upward momentum. However, a cooling broader crypto market may lead investors to book profits. This potential shift poses a risk of a price correction for the HYPE token.
