Nvidia selloff wipes out $1.54 million Hyperliquid long

Wallet records showed two liquidation orders, covering about 7,970 and 1,990 contracts and valued at $1.23 million and $307,530, respectively. Both were executed near $154.40; the trader’s remaining position was then closed. Huang, who co-founded Nvidia in 1993, stepped down after a board investigation into reports about his personal relationships and potential national security concerns. Chief Financial Officer Colette Kress was named interim CEO as the company searches for a permanent successor. Huang will leave Nvidia’s board.

A second Hyperliquid trader’s approximately 190,950 NVDA contracts, valued at $31.14 million, were still open but showing $2.17 million in unrealized losses, according to Hypurrscan data cited by Stocktwits. The position had an average entry price of $174.43 and roughly five times leverage; its reported liquidation price was $86.67. Nvidia perpetual futures on Hyperliquid fell as much as 10% after reports that the board was considering removing Huang.

Trading activity rose sharply. CoinGlass figures cited by CoinDesk put cumulative Nvidia perpetual futures volume across crypto exchanges above $4 billion. Hyperliquid open interest reached $535 million, about 5.8 times its level a week earlier. Of 9,517 wallets tracked, roughly 83% held long positions, with combined unrealized losses of about $14.6 million. Another trader opened an $8.67 million NVDA long at an average $160.60 entry price, using two times leverage, Lookonchain reported, citing TradingBeats.

Wall Street analysts differed on the implications of Huang’s departure. D.A. Davidson managing director Gil Luria told Reuters that Kress was respected by investors and could guide Nvidia through a difficult period, but called the transition daunting given Huang’s central role. Before the resignation was confirmed, Futurum Equities chief market strategist Shay Boloor said the existing product pipeline and customer demand should sustain near-term revenue: “I don’t see the next 12 to 18 months of revenue suddenly disappearing if Jensen were to leave.” His concern was Nvidia’s longer-term direction. Analyst Dan Ives had warned the company could lose as much as 30% of its value without Huang, citing his importance to its AI strategy. A Taiwanese supplier executive told Reuters a successor might be less aggressive about committing to manufacturing capacity. Minotaur Capital co-founder Armina Rosenberg said chips scheduled for shipment over the next two years were already designed and in production, while customers’ 2027 spending plans were largely established.