Nvidia's Stock Gets Cryptocurrency-Style Trading Rails

Nvidia's stock is being traded like cryptocurrency, thanks to tokenized equities and equity perpetuals. According to CoinMarketCap, 1,851 tokenized-stock instruments are available, with a combined market capitalization of $2.3 billion and daily trading volume of about $2 billion.

Tokenized stocks have been turning over roughly 89% of their market cap daily, significantly higher than the turnover seen in Bitcoin or other tokens.

Equity perpetuals are also expanding rapidly, with their share of Hyperliquid's perpetual volume rising from 2% at the start of the year to nearly half.

Alice Liu of CoinMarketCap notes that this convergence is happening at the distribution layer, not the asset layer. This means that traditional stocks like Nvidia are being traded on digital rails, offering 24/7 access, fractional trading, and leverage.