Influential analyst Ali Martinez spotlighted on Saturday the strong demand for Space Exploration Technologies Corp. (NASDAQ:SPCX) among cryptocurrency investors.
‘Demand Was Always There’
In an X post, Martinez said that the “appetite” for the newly listed space giant is “bigger” than what they expected.
The analyst cited CoinMarketCap data showing billions traded in SpaceX-linked cryptocurrency products across the market since the stock’s debut on Wall Street.
In the past 24 hours, approximately $11.9 billion in SpaceX derivatives were traded on cryptocurrency exchanges, of which Binance (CRYPTO: BNB) accounted for 26%.
“For years, retail investors had almost no way to get exposure to companies like SpaceX,” Martinex noted. “The volume we’re seeing suggests the demand was always there. It just lacked a market.”
