Solana Ecological exchanges Phoenix Trade now allow traders to go long or short around the clock ANTHROPIC. As market interest in private AI companies heats up ahead of potential major IPO, this provides traders with another way to place bets.
Phoenix Trade is a permanently online contract exchange that is built on Solana, fully on-chain, and non-hosted. The platform has launched a perpetual futures market that provides exposure to Anthropic, allowing traders to speculate on its valuation before this artificial intelligence company may go public.
Traders can now trade long or short on ANTHROPIC 24/7, with a maximum leverage of 6 times. Phoenix introduced $SOL as collateral in September, and this cash-settled ANTHROPIC perpetual contract market will also support $USDC and $SOL as collateral, allowing users to manage their positions in the cryptocurrency, stock, and commodity markets from the same account.
Phoenix How to price ANTHROPIC
Phoenix uses a custom pricing model that combines on-chain and off-chain inputs to determine the reference price of ANTHROPIC. This mechanism is built upon Impact Pricing and Phoenix will utilize it for real-world asset perpetual contracts when external markets are closed.
Unlike freezing the last external oracle price before the market reopens, this system gradually adjusts this reference price based on the liquidity and activity in the Phoenix order book. This approach allows the market to continue operating outside of traditional trading hours.
Anthropic Revenue grows by 45% to reach $16.8 billion
On the occasion of this launch, Anthropic is preparing for a IPO that could rank among the largest in history. Reports indicate that Anthropic executives told potential investors yesterday, on October 14th, that the company's revenue in the third quarter of 2026 reached 16.8 billion US dollars, an increase of about 45% from 11.6 billion US dollars in the second quarter. Revenue also rose from 4.7 billion US dollars in the first quarter, showing growth for several consecutive quarters this year.
The company that develops Claude AI Assistant also claims to have reported a profit for the second consecutive quarter after certain adjustments were made. Its adjusted gross margin reached 85%.
It is reported that investment banking professionals have discussed a financing target of over $100 billion and a valuation of $2 trillion. Anthropic may begin public trading as early as next month, although the timing and terms are still uncertain.
These data also explain why traders may wish to obtain an exposure to Anthropic before it goes public. However, the ANTHROPIC perpetual contracts provide a leveraged price exposure, rather than ownership, and do not correspond to any claim rights to the company's financial performance.
Anthropic has attracted pre-listing traders from Solana.
Phoenix Entering into a market that has already attracted a lot of activity on Solana. According to a report from Allium Labs in September, this year 7 pre-listed tokens contributed $1.3 billion in trading volume on Solana. SpaceX led with $330 million, followed closely by OpenAI with $272 million, while Anthropic ranked third in trading volume.
However, Anthropic attracted 23,722 traders, which is more than SpaceX, indicating that market interest is not solely focused on the assets with the largest trading volumes. The new product of Phoenix provides traders with another platform to express their views, and it also allows for up to 6 times leverage.
Phoenix Trading volume increases, Solana Expand trading incentives
The launch of Phoenix also coincided with an increase in its perpetual market activities. According to Blockworks data, since late July, the exchange has recorded multiple weeks with trading volumes exceeding 300 million US dollars. In August and September, the trading volume for each month exceeded 1 billion US dollars.
The growth portion is related to Flight Club. This is the incentive program of Phoenix, which distributed $420,000 to traders from July 27th to August 23rd. The Frontier Traders program of Solana also provided another source of incentives; this program tracks activities on 16 platforms and offers prizes totaling over $1 million. The focus of the first quarter was on conducting perpetual futures trading through Phoenix Trade and Solflare Perps, which is supported by Phoenix.
Phoenix launches the ANTHROPIC perpetual contract and expands its product line, aiming to address the long-standing complaints from Solana traders about the limited options for perpetual trading. It also aims to help the perpetual trading ecosystem of Solana compete with more mature platforms such as Hyperliquid. Solana Traders have long regarded the lack of tradable assets as one of the biggest obstacles in adopting this type of trading. The listing of new coins on Phoenix is helping to narrow this gap and giving users fewer reasons to switch to other platforms.
