Nvidia on-chain perpetual futures trading points to continued slump as markets open

On-chain perpetual futures for Nvidia (NASDAQ: NVDA) point to another drop at market open on November 9. On HIP-3, NVDA is aggressively shorted, while going through more than a day of concentrated selling volume. Nvidia (NVDA) rose among the most aggressively traded perpetual futures, in response to the news of founder Jensen Huang’s affair with Alice Huang, now investigated for spying on behalf of China. While markets were closed, perpetual futures pointed to the potential development on Nasdaq as Monday trading started. NVDA traded at $186.64 during pre-market hours, down from its range above $200. NVDA now faces double pressure from the immediate scandal, as well as the general deflation of AI and semiconductor stocks.

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