Trading activity for Nvidia futures on the decentralized exchange Hyperliquid reached $2.14 billion in daily volume on November 13, following the sudden resignation of Nvidia’s long-serving CEO, Jensen Huang. The record figure was confirmed by multiple sources tracking derivatives trading across several platforms.
Record trading volume on Hyperliquid
Data from CoinGlass indicated that the NVDA-USDC perpetual contract on Hyperliquid accounted for $2.14 billion in daily trading activity on November 13. Aggregate Nvidia derivatives trading volume across the platforms referenced by CoinGlass reached $9.51 billion during the same period, surpassing the volumes for other major contracts such as Ethereum, Solana, and XRP.
This volume represents a surge in market activity since the Nvidia perpetual contract, provided by Trade.xyz, began trading on November 12, 2025. Marsbit described the tally as a record for the new product, which quickly attracted significant attention from traders.
These figures reflect trading volumes, not the amount of funds lost through liquidations. Previous reports, such as one from The Block, put the 24-hour Nvidia perpetual-futures volume at $2.34 billion on November 12, highlighting rapid increases in activity over a short window.
Mini dictionary: Hyperliquid is a decentralized exchange focused on perpetual trading of crypto and tokenized real-world assets, allowing users to trade derivatives without using a central intermediary.
Nvidia contract trading on Hyperliquid surged to $2.14 billion in daily volume, showing notable appetite for derivatives linked to the stock at the time of the executive transition.
Volume vs. liquidations
Reports varied on liquidations for the Nvidia contract compared with XRP. U.Today cited CoinGlass, reporting $40.86 million in Nvidia contract liquidations during the period: $26.23 million for the on-chain XYZ:NVDA ticker and $14.63 million for the base NVDA contract. XRP liquidations were calculated at $20.75 million. However, a separate CoinGlass snapshot on November 13 listed $12.16 million in NVDA liquidations and $15.48 million for XRP. The inconsistent data suggests differences in contract groupings, measurement windows, or database updates may influence reported totals.
The contrasting figures indicate heavy trading and sizable liquidations for Nvidia contracts, without establishing that every data view puts Nvidia liquidations above those for XRP.
Despite the uncertainty, the activity highlights the potential risks for leveraged traders, especially during periods of heightened volatility linked to corporate news.
Nvidia’s leadership transition
Nvidia, a major global designer of graphics processing units and AI chips, disclosed its board had accepted Jensen Huang’s resignation as CEO, president, and director, effective immediately as of November 11. The board appointed Chief Financial Officer Colette Kress as interim CEO and Harvey C. Jones as its first board chair while a permanent successor is sought.
The company did not specify a reason for Huang’s swift departure. While some outlets suggested the move followed an internal investigation, Nvidia’s public statements confirmed only the planned transition and the board’s support for Kress.
Kress expressed that Nvidia will maintain its emphasis on accelerated computing and artificial intelligence initiatives, with operations and commitments expected to continue without interruption.
Mini dictionary: Nvidia is a leading technology company specializing in graphics processing hardware and AI solutions for data centers, gaming, and research applications.
Market and crypto reaction
On November 13, Nvidia’s share price dropped 14% intraday before recovering to close at $166.19, a net decrease of 4.34% on the day. During this same window, Nvidia futures rose 5.6% to $171.17, showing distinct dynamics between the stock and perpetual contract prices.
Crypto markets also experienced significant volatility, with the following prices recorded by CoinGecko on November 13, 2026, at 14:13 UTC:
| Asset | Price | 24-hour change |
|---|---|---|
| Bitcoin (BTC) | $69,263 | -4.19% |
| Ethereum (ETH) | $1,963.79 | -2.07% |
| XRP | $1.03 | +0.29% |
| Solana (SOL) | $81.29 | +0.29% |
The total value of crypto liquidations over 24 hours varied depending on the source. U.Today cited $1.65 billion in liquidations and 187,389 traders affected, with most losses stemming from long positions. The Block, referencing a slightly different CoinGlass dataset, reported $1.47 billion in total liquidations, including $1.31 billion from long trades. Both reports reflected extremely high leverage-related stress across crypto derivatives markets.
At the same time, market sentiment was described as extremely fearful, with the Crypto Fear & Greed Index measuring just 20 points, emphasizing broad caution among traders following volatile moves in both equities and digital assets.
Upcoming events and important notes
Nvidia is expected to deliver its quarterly earnings results on November 17. No performance forecasts or guidance figures have been issued in connection with the leadership change, and company statements have focused on operational continuity.
When reviewing headlines about trading records or liquidations, observers should distinguish between reported trading volume and actual funds lost or gained in derivatives positions, as measurement methods and reporting times can lead to significant differences in interpretation.
