Nvidia Futures Volume Hits Record $2.14 Billion on Hyperliquid as Liquidations Top XRP
Nvidia-linked cryptocurrency derivatives recorded a surge in trading activity, with the NVDA-USDC perpetual contract on Hyperliquid reaching a record $2.14 billion in daily volume. The figure exceeded trading activity in several major crypto contracts as volatility in Nvidia shares triggered increased interest in leveraged positions.
According to Data from CoinGlass showed that Nvidia futures ranked second only to Bitcoin in trading volume on Hyperliquid, ahead of Ethereum, Solana and XRP. Across tracked cryptocurrency exchanges, Nvidia-related derivatives generated a combined $9.51 billion in volume, with Trade.xyz providing the NVDA-USDC contract.
The spike in activity followed reported leadership changes at Nvidia on November 12. The source report said co-founder Jensen Huang resigned amid an internal investigation, with Chief Financial Officer Colette Kress taking over as interim CEO.
Nvidia Shares Fall 14% Before Recovering
Nvidia shares experienced significant volatility during Nasdaq trading. The stock dropped 14% intraday before recovering part of its losses and closing at $166.19, down 4.34% for the session.
Nvidia-linked futures traded at different price levels across cryptocurrency derivatives platforms. Despite the liquidation activity, the futures gained 5.6% to $171.17 across crypto exchanges during the reported period.
Nvidia Futures Liquidations Reach $40.86 Million
The rise in trading activity coincided with substantial losses among leveraged traders. CoinGlass recorded $40.86 million in Nvidia futures liquidations. The XYZ:NVDA contract accounted for $26.23 million, while standard NVDA contracts contributed another $14.63 million.
On Hyperliquid, the largest individual liquidation involved a $1.54 million long position. Standard NVDA contracts recorded $8.87 million in liquidated long positions and $5.89 million in short liquidations.
Nvidia-related liquidations nearly doubled the $20.75 million recorded for XRP. Of XRP's total, $19.6 million came from long positions as the token declined 2.5% to $1.0192.
Broader Crypto Market Liquidations Reach $1.65 Billion
The volatility extended beyond Nvidia-linked derivatives. Bitcoin fell 5.3% to $69,450.50, while Ethereum declined 4.1% to $1,958.71 amid broader weakness across cryptocurrency markets.
CoinGlass reported $1.65 billion in liquidations across the market, affecting 187,389 traders. Long positions represented 88% of the total, indicating that traders betting on rising prices accounted for most of the liquidated positions.
Bitcoin recorded the largest share of liquidations at $919.56 million, followed by Ethereum with $297.24 million.
Nvidia's scheduled earnings release on November 17 represents another corporate event for traders monitoring the company's shares and related derivatives markets.
Writer: Marcus RenfieldCrypto Market Analyst & Onchain WriterMarcus Renfield covers cryptocurrency markets with a focus on onchain data, Bitcoin price action, and emerging market narratives. His writing examines how capital flows, network activity, and broader market structure influence short- and medium-term trends.He aims to provide clear, data-informed analysis for readers seeking a deeper understanding of crypto market dynamics.