Hyperliquid HIP-3 NVIDIA open interest reaches $535 million, ranking behind only BTC, ETH, and HYPE.

BlockBeats news, November 12 - According to Mlm on chain monitoring, Nvidia (NVDA) has currently become the largest HIP-3 market by open interest on Hyperliquid, and the fourth largest market on the platform, surpassed only by BTC, ETH, and HYPE. Its open interest has reached $535 million, growing 5.8 times over the past 7 days, which is 2.4 times the previous peak of $227 million in June this year.

Today, the NVDA market's daily trading volume exceeded $1 billion for the first time. The largest single position is currently a short position of 348,000 NVDA shares held by Jump, valued at approximately $56 million, which is a non-directional position.

The largest directional position is a long position of 191,000 NVDA shares, valued at approximately $30.7 million, gradually built over the past 24 hours with an average entry price of $174.43, and is currently at an unrealized loss of about $2.6 million. The market has a total of 9,517 trading wallets, of which 83% hold long positions; market makers account for 70% of the short open interest.

The current average entry price for longs is $169.55, while the mark price is $160.66, about 5.2% below the average entry price. The total unrealized loss across all NVDA long positions amounts to $14.6 million.