NVDAX Tokenized Stock Debuts on Hyperliquid Spot

NVDAX, the tokenized NVIDIA stock (xStocks) backed by Backed, has been listed on Hyperliquid spot, giving traders a new venue to gain blockchain-based exposure to NVIDIA Corp (NVDA). The token, which operates on Ethereum, Solana, Arbitrum, and other chains, is currently trading at $211.31 (up 2.62% in 24 hours) with a 24-hour volume of $8.01 million across 87 active markets.

What Happened & Market Context

The listing on Hyperliquid spot expands NVDAX's reach beyond centralized exchanges like Gate, Bitrue, and Phemex. According to CoinMarketCap, NVDAX ranks #240 with a live price of $196.39 (as of the latest data), though the alert price of $211.30 reflects intraday volatility. Over the past week, NVDAX has fallen 8.28%, while its year-over-year performance shows a 36.31% gain. The token's supply is infinite, and it is minted by Backed, allowing holders to redeem for the underlying equity (with fees).

Note: NVDAX does not confer shareholder rights (voting, dividends) — it is a synthetic representation of NVDA stock.

Token Snapshot

• Symbol: NVDAX
• Name: NVIDIA tokenized stock (xStock)
• Current Supply: 654,116.96 tokens
• Platform: Ethereum (ERC-20) and multi-chain (Solana, Arbitrum, BNB Chain, Toncoin)
• Tags: DeFi, Tokenized Stock, Ethereum Ecosystem, Solana Ecosystem, Arbitrum Ecosystem, BNB Chain Ecosystem, Toncoin Ecosystem, Internet Capital Markets, Tokenized Assets, xStocks Ecosystem
• Issuer: Backed (backed.fi)
• Explorers: Etherscan, Solscan, Arbiscan

Risk Notes

• Regulatory Uncertainty: Tokenized stocks face evolving regulations; delistings (e.g., KuCoin in September 2025) can occur.
• No Shareholder Rights: NVDAX holders do not own the underlying stock or receive dividends.
• Counterparty Risk: Relies on Backed for minting and redemption; any issuer issues could affect token value.
• Market Volatility: NVDAX tracks NVDA price but may deviate due to liquidity or arbitrage gaps.

Where to Trade

NVDAX is now tradable on Hyperliquid spot (USDC pair). For automated trading strategies, use our bot: Trade with our bot.