Cerebras just IPO'd yesterday, and today it surpassed NVIDIA on the blockchain.


On Hyperliquid,
24-hour trading volume exceeded $280 million, hitting a peak since contract deployment; holding volume rose simultaneously to $57 million; daily trading volume is more than twice that of NVDA's mapped contracts;
holding volume has surpassed half of NVDA's.
Cerebras is called "NVIDIA's strongest challenger," and yesterday it completed the largest AI chip IPO in history on NASDAQ, closing the first day up 68%.
Once the new stock was listed, on-chain trading volume pushed traditional giants aside—this is driven by two simultaneous logics:
On-chain traders react to new hot topics much faster than traditional markets; small circulating supply + high narrative are exactly what leveraged funds love.
The on-chain stock contract market is becoming the fastest "secondary market" for new IPOs.
NVDAX-0.12%
HYPE-0.6%
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