As traditional finance and the crypto market rapidly merge, the Super IPO segment launched by Ourbit SuperCEX has become a recent focus of market attention. This product aims to track the market capitalization performance of target companies before and after key events such as IPOs and mergers and acquisitions, allowing crypto users to participate in the "pre-IPO" rallies of popular global tech companies without needing to open overseas brokerage accounts. Following the first phase's focus on SpaceX (SPAX), the second phase's target, OpenAI (OPENAI), also recorded significant gains after its launch, and the secondary market performance of both phases has sparked widespread discussion.
Secondary market performance: SpaceX and OpenAI saw considerable gains.
According to data from the Ourbit platform, SpaceX (SPAX) , the first project in the Super IPO, started at an opening price of 200 USDT and once reached a high of 839.95 USDT , more than four times the opening price. As of press time, SPAX/USDT is trading at 788.07 USDT, still maintaining a relatively high level of fluctuation.
The second project, OpenAI (OPENAI), also performed exceptionally well after its token settlement and listing on May 18th. Opening at 500 USDT, it surged to a high of 899.82 USDT on its first day, representing a maximum increase of approximately 80% . The latest price is 886.52 USDT, a 24-hour increase of 77.3% . Both tokens outperformed mainstream crypto assets during the same period, indicating a clearly optimistic market sentiment.
Subscription data: Oversubscribed by more than 10 times, demonstrating the market's enthusiasm.
According to the public subscription data of OpenAI Super IPO, market participation in this project significantly exceeded expectations. The subscription price was set at 699 USDT/OPENAI (officially claimed to be the lowest price among similar products online), with a total subscription volume of 3,000 OPENAI , corresponding to a maximum total subscription value of 2,097,000 USDT . However, during the subscription window, the actual subscription amount reached 22,308,752.95 USDT , with 3,943 participants, pushing the public subscription progress to 1,063.84% , an oversubscription of more than 10 times .
The market feedback reflected in the data is quite direct: OpenAI's first phase attracted more than 10 times the subscription limit, with nearly 4,000 participating addresses, demonstrating strong demand from crypto users for pre-IPO assets in the primary market. Coupled with the design that USDT invested during this subscription period could enjoy a relatively high annualized return, the overall cost-effectiveness was highly attractive to retail investors, which is one of the key reasons why the subscription scale was able to significantly exceed the limit.
Product positioning: Filling the gap for crypto users to participate in traditional IPOs.
Publicly available information shows that OpenAI, the target of this round of financing, is currently a leading global provider of consumer AI, boasting 900 million weekly active users and rapidly expanding in the enterprise-level agent AI field with products such as Codex. The company's most recent funding round reached a record $122 billion , with Microsoft, NVIDIA, Amazon, and SoftBank among the participants. At this valuation level, the barrier to entry for ordinary investors to directly participate in OpenAI equity through traditional channels is extremely high. Super IPOs offer investors a more convenient alternative path to participation.
From a product positioning perspective, Ourbit, as a SuperCEX connecting cryptocurrency and traditional finance (TradFi), has recently been continuously expanding its asset dimensions around the "Trade Everything" strategy—from cryptocurrency spot and contracts, to tokenized US stocks, ETFs, commodities, and forex, and further to Tap Trading, Super IPOs, and prediction markets, allowing users to access trading opportunities for both crypto and traditional assets within a single app. The Super IPO section is a key piece of the puzzle in realizing the "Trade Everything" strategy.
Market Observation: Dual-Period Performance Reports Realize Wealth Creation Effect
Judging from the two projects already launched, Super IPOs tend to target unlisted technology companies with high global visibility and limited accessibility in traditional markets —SpaceX and OpenAI both fit this characteristic, which is one of the key reasons why this sector has attracted significant market attention in the short term. Both products recorded significant gains after launch, coupled with oversubscription data exceeding 10 times.
Ourbit Super IPO has already established a connection path with real wealth-creating effects between crypto users and "traditional tech unicorns".
With the successful launch of the first SPAX and the second OPENAI, the market is widely focused on which new star targets will be introduced in the Super IPO. Combined with Ourbit's existing expertise in compliance and security—the platform has passed Hacken's in-depth penetration testing and authoritative audit, provides a 1:1 proof of reserves, and has completed CODE Travel Rule compliance integration— this security foundation safeguards Ourbit's continued and stable expansion of new products, and also gives the popular Super IPO product line the potential for further growth.
However, it should be noted that the price performance of such contract-based products is influenced by the fundamentals of the underlying company, as well as factors such as crypto market sentiment and liquidity depth, resulting in significantly higher volatility than traditional stocks. Investors should carefully assess their own risk tolerance before participating in such highly volatile assets.
About Ourbit
Ourbit is a leading SuperCEX connecting cryptocurrency and traditional finance (TradFi). Built by Degens for Degens, we support 24/7 trading of stocks, ETFs, commodities, forex, and cryptocurrencies. Ourbit offers industry-leading fees, including 0% commission on all spot and select contract trading pairs. With strong liquidity and high-leverage trading support, we are committed to building a comprehensive ecosystem to help our community members achieve their wealth goals.
