Tokenized Tesla surges as Elon Musk unveils SpaceX-powered flying Roadster prototype

The surge shows how crypto exchanges that never close are becoming the first place investors react to news about traditional companies.

Musk demonstrated the prototype, which uses SpaceX thruster technology, on Oct. 15, after Tesla TSLA shares closed at $362.44. Hyperliquid’s TSLA perpetual contract rose about 4.9% to roughly $378, and hourly trading volume leapt about 1,580%, from $2.8 million to $47 million.

It is already the contract’s second-busiest day since listing a year ago, with the daily candle only nine hours old. Binance remained the largest venue, with $279 million in 24-hour volume versus Hyperliquid’s $159 million, according to RootData , but Hyperliquid held the most open interest, at $99 million. Tesla shares were up about 4.5% in premarket trading.