Hyperliquid whale holds $9.35M Nvidia long after Huang exit
A Hyperliquid whale has placed $3.04 million in orders to add to a $9.35 million Nvidia long position as the chipmaker’s shares have fallen roughly 10% in premarket trading following Jensen Huang’s resignation on Nov. 12.
Summary
- $9.35 million in Nvidia perpetual exposure remained open, with 20,000 more units sought through limit orders.
- 20x cross leverage backed the Nvidia position, which showed nearly $200,000 in unrealized losses.
- $30.69 million in Micron longs made up the larger part of the whale’s two stock positions.
- $1.37 billion in daily Nvidia perpetual volume appeared in an earlier Hyperliquid market snapshot.
Lookonchain identified the trader in a Nov. 12 X post, sharing account screenshots that showed 60,000 units of the xyz:NVDA perpetual and pending orders below the market. “After reports that Jensen Huang stepped down as Nvidia CEO, a whale is adding to his $NVDA long!” the blockchain tracker wrote.
Nvidia’s announcement confirmed Huang’s immediate departure as president, CEO, and director. CFO Colette Kress became interim CEO while retaining her finance role, and longtime director Harvey C. Jones became the board’s first chair. The board began searching for a permanent successor.
Nvidia buy orders target prices below $155
In the supplied Hypurrscan screenshot, the Nvidia position had an average entry price of $159.19 against a displayed market price of $155.86. Its unrealized loss stood at $199,541, while the funding column showed a further negative $4,002.51.
The orders tab listed 50 buy orders totaling 20,000 units between $150.24 and $154.20, worth approximately $3.04 million. Pending orders represent an intention to buy at specified prices; the screenshot does not show them being filled.
If all 20,000 units were purchased and the existing position remained open, the trader’s Nvidia exposure would reach 80,000 units, one-third more than the displayed position. Combining the existing notional value with the quoted order value gives roughly $12.39 million, although the total would change with prices and executions.
Nvidia shares fell 10.3% to around $156 in premarket trading on Nov. 12 after Jensen Huang resigned as CEO.
Micron exposure exceeds the Nvidia position
The same account held 40,000 units of xyz:MU, a perpetual tracking Micron, with a displayed value of $30.69 million. The position used 10x cross leverage and showed $320,051 in unrealized losses, alongside negative funding of $48,744.
Across the two positions, displayed notional exposure totaled $40.04 million and unrealized trading losses approached $519,600. Funding entries were separate from those losses.
Lookonchain described the Micron holding as the largest MU long and said the trader had completed 28 trades with a 75% win rate, earning more than $6 million in realized profit.
The supplied trade-history image showed earlier profitable Micron positions, including $1.64 million from a trade closed Oct. 29 and $1.54 million from one closed Sept. 17. A previously closed Nvidia long showed $154,713 in net profit.
Nvidia perpetual volume tops $1 billion
An earlier HyperAcademy snapshot on Nov. 12 showed Nvidia perpetuals at $158.68, down 9.38% over 24 hours, with $1.37 billion in daily volume and $531.2 million in open interest.
HyperAcademy listed the contract as trading 24 hours a day, seven days a week, with hourly funding settlement and a maximum leverage setting of 20x. Its timestamp placed the snapshot before the regular US stock market opening at 9:30 a.m. Eastern.
Hourly funding was positive at 0.0036%. Applied to a constant $9.35 million position, that rate would equal roughly $337 per hour if unchanged. It is a snapshot calculation, separate from the whale’s accumulated funding expense.
AI-linked cryptocurrencies were falling during the day as well. CoinGecko’s category dashboard showed their combined market value down 4.7% over 24 hours to $18.3 billion, with trading volume of $1.34 billion. The daily figures cover a longer period than Nvidia’s resignation announcement.
Stock perpetuals have drawn US market proposals
As crypto.news previously reported, Bloomberg Terminal added streaming prices for selected Hyperliquid perpetuals in October. The integration provided market data without direct trade execution.
In September, Coinbase sought approval for perpetual futures tied to more than 50 US stocks, including Nvidia, with proposed weekday trading around the clock. Such contracts provide price exposure without making their holders shareholders.
Hyperliquid Policy Center’s August regulatory proposal asked the SEC and CFTC to treat qualifying cash-settled equity perpetuals as security futures under joint oversight.
