SpaceX (SPCX) massive share unlock has triggered a wave of trading activity across crypto markets. While the stock recovered from early pressure, its tokenized version, SPCX, saw nearly $700 million in trading volume on Gate, showing traders are preparing for bigger price moves ahead.
Here’s what traders should know.
SPCX Volume Jumps Over $700 Million
According to the Cryptoquant data, daily trading volume climbed from around $126 million to $332 million on Aug. 4, before crossing $360 million on Aug. 5. Together, the two sessions generated almost $700 million in trading volume.
The Cryptoquant volume equity chart shows SPCX becoming one of the highest-volume tokenized equities on Gate, far above most other listed tokenized stocks during the same period.
Also Read : SpaceX Stock Price Prediction 2026, 2027, 2030–2040: Can SPCX Stock Reach a $3 Trillion Valuation?
Unlike traditional SpaceX shares, Gate’s SPCX token allows crypto traders worldwide to gain exposure to the company. Because the token closely tracks SpaceX’s market value, any major event affecting the stock quickly spills over into crypto trading.
911.5M Share Unlock Boost SPCX Share
The main catalyst was the release of 911.5 million Class A shares owned by early employees and pre-IPO investors.
The unlocked shares increased the available supply by roughly 42.6% compared with the 638.9 million shares that were originally available after SpaceX’s public listing.
Many traders expected heavy selling once the lock-up expired. Instead, SpaceX stock surged by 6.14% to trade around $114.92, surprising the market.
According to Darkfost, many crypto traders prepared for the share unlock before Wall Street reacted. Large investors also became more active, buying and selling SPCX tokens to take advantage of price changes between Gate’s token and SpaceX shares.
Three Possible Scenarios for SPCX
Analysts believe SPCX could now follow three different paths.
If insiders begin selling large amounts of unlocked shares, additional supply could pressure SpaceX stock lower, dragging the tokenized SPCX market down as well.
A second possibility is a short squeeze. Since many traders expected a sharp decline, continued strength in SpaceX shares could force bearish traders to close positions, creating another rally.
The third scenario is a period of consolidation. Instead of selling immediately, early investors may slowly distribute shares over several weeks.
If that happens, SPCX may trade closer to Wall Street prices with lower volatility, acting mainly as a tokenized version of SpaceX stock rather than a speculative crypto asset.
What to Watch Next
The first 911.5 million shares have already been unlocked, but more are coming over the next few months:
- August 20, 2026: 319 million shares
- September 9, 2026: 319 million shares
- September 10, 2026: 59 million affiliate-held shares
- September 24, 2026: 328 million shares
By December 8, 2026, more than 4.6 billion shares will be available for trading. However, Elon Musk’s stake, which is over 40% of the company, will remain locked until June 12, 2027.
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