Backpack’s BP token surges 27% after SpaceX stock debut on Solana

Backpack’s BP token surged 27% following the debut of SpaceX stock on the Solana blockchain, highlighting new dynamics in cryptocurrency markets.

The world of cryptocurrency is ever-evolving, and with each passing day, new dynamics can emerge. Just recently, a remarkable surge was noted in the price of Backpack’s BP token, which climbed an impressive 27% . What sparked this sudden uptick? The thrilling debut of SpaceX stock on the Solana blockchain certainly played a pivotal role. Did SpaceX's Stock Debut Cause BP Token to Skyrocket? On June 12, 2026, major cryptocurrency exchanges such as Bybit , Binance , and Bitget made headlines not for their usual trading activities, but for canceling their SpaceX tokenized IPO campaigns. These cancellations were due to an unexpected allocation shortfall. Specifically, the exchanges were unable to secure the underlying assets necessary for distributing SpaceX exposure to their users. Bybit revealed that their users would not receive the expected SpaceX allocations. Consequently, all subscription funds were set to be refunded, and eligible users were promised additional rewards based on a 10% APR over a fixed four-day period. Following suit, Bitget made a similar announcement, explaining that allocated SPCXx tokens for the IPO could not be delivered. Users there too would receive full refunds, including a handling fee, alongside a future whitelisting for upcoming IPOs and a $10 gas fee voucher. Meanwhile, Binance, which also faced difficulties, announced the cancellation of its Binance Wallet SPCXx IPO campaign. All locked USDC would be refunded through the original payment method, and the exchange promised a significant $1 million airdrop of bStocks SpaceX tokens (SPCXB) for participants in the campaign. How Did SpaceX Stock Perform After Its IPO? The backdrop of these cancellations highlighted a historic moment as SpaceX started trading on Nasdaq under the ticker SPCX. Opening at approximately $150 —around **12%** higher than its IPO price of $135—the shares showed strong momentum, eventually climbing to nearly $171 , representing a remarkable **26%** increase from the