NVIDIA has extended its strong momentum, with the stock gaining nearly 19% over the past 10 days. According to the source material, this marks the company’s longest rally since November 2023, underscoring renewed strength in one of the market’s most closely watched technology names.
On-chain NVDA contract activity picks up
The rally also translated into stronger interest in blockchain-based trading products linked to NVIDIA. On April 15, the NVDA contract on Hyperliquid was quoted at $195.8, while daily trading volume reached $39.39 million. The figures suggest that price action in major U.S. equities is continuing to spill over into on-chain derivatives markets.
Continue Capital closes long after 148 days
A key development in this move was the exit of Continue Capital, identified in the report as the largest on-chain NVDA long-position holder. The fund’s position was initially valued at about $7.73 million, with an average entry price of $190.1. After holding the trade for 148 days, the recent advance finally pushed the contract back above its cost basis, allowing the position to be closed at breakeven and potentially unlock gains.
The episode highlights how sustained moves in large-cap tech stocks can materially affect traders in on-chain synthetic and derivatives markets. In this case, NVIDIA’s sharp rebound gave a major holder the chance to exit a long-held trade after months of pressure, showing the growing linkage between traditional equity narratives and crypto-native trading venues.