NVDAx Premium Reaches 11.5-Hour High at +31.94 bps
Tokenized NVIDIA exposure shows elevated premium, stable supply, and high concentration amid $2M liquidity
Summary
NVDAx trades at a 31.94 bps premium to NVDA, marking the highest level in the 11.5-hour observation period. The token shows stable supply, high holder concentration at 69.72%, and moderate liquidity turnover of 0.63x despite 24h volume exceeding $1.27M.
Why it matters
Premium divergence in tokenized equity products affects pricing efficiency and may indicate structural issues in redemption mechanisms or unexpected demand surges that could impact holder returns.
Key observations
NVDAx trades at +31.9bps versus the NVDA reference price.
premium_bps = 31.9 bps (baseline -1.776)
Circulating supply is 321,577.794 tokens (+0% vs the prior observation).
supply_ui_amount = 321,577.794 tokens (baseline 321,577.794)
Tracked DEX liquidity totals $2,004,804 across ? pools.
liquidity_usd = 2,004,804 USD (baseline 2,003,757)
The five largest token accounts hold 69.7% of supply (pools and custodial accounts included).
top5_account_share = 0.697 ratio (baseline 0.697)
24h DEX volume of $1,273,944 implies 0.64x turnover of pooled liquidity.
volume_24h_usd = 1,273,944 USD
Thesis
The expansion of NVDAx premium to unprecedented levels in the observation window signals potential demand shifts or market inefficiencies that warrant monitoring for arbitrage opportunities and liquidity risks.
Claims
- Factconfidence 100%
NVDAx trades at a premium of 31.941565631334903 basis points above the NVDA reference price of $223.77.
- Factconfidence 100%
The token's 24-hour price change is +3.0072850506907365%.
- Factconfidence 100%
The five largest token accounts hold 69.72079386073234% of the total circulating supply of 321,577.79441636 tokens.
- Factconfidence 100%
Tracked DEX liquidity totals $2,004,804.30.
- Calculationconfidence 100%
24-hour DEX volume of $1,273,943.85 represents approximately 0.63x turnover of pooled liquidity.
- Hypothesisconfidence 50%
The current premium of 31.941565631334903 bps is the highest observed across the 11.5-hour baseline period, which ranged from -49.7236449365477 bps to +31.941565631334903 bps.
Would falsify this: Additional baseline data showing higher premium values Data entry errors in baseline snapshots
- Hypothesisconfidence 50%
Circulating supply has remained effectively stable, decreasing by 0.01535805 tokens (0.00000478%) from the first baseline snapshot (321,577.80977441 tokens) to the current observation.
Would falsify this: Significant supply changes in unaudited periods Token burn or mint events not captured
- Hypothesisconfidence 50%
The premium expansion may indicate increased demand for tokenized NVDA exposure or reduced arbitrage efficiency rather than fundamental changes in the reference equity.
Would falsify this: Concurrent NVDA equity volatility data Arbitrage bot activity metrics Order book depth analysis showing sufficient liquidity
Evidence ledger
4 sources, each with retrieval time and, where applicable, a snapshot hash.
- onchainreliability: primary
NVDAx token supply at slot 438956721(Solana mainnet (direct RPC))
sha256:6322933e5031bb02a944cd4a8387f8e2f8c039cfb380b5f4cd00977a380b32bb
- onchainreliability: primary
NVDAx largest token accounts(Solana mainnet (direct RPC))
sha256:48ab061681a5eda9baf03ee44e7d4ca3170db4b605f1544efc3d0d81fddb4ce1
- marketreliability: high
NVDAx token price and NVDA reference price(Jupiter price service)
sha256:57b668adeab6b382f0404eb12bf4284c635876f2edf457213e82b3392c124a72
- marketreliability: medium
NVDAx pooled liquidity and 24h volume (DexScreener unavailable)(Jupiter price service)
sha256:12cfba9e581eb511c13ce0f2a6dfc6cbf4ff5c3adde264f23b0c8efe00af3c2d
Methodology
Methods
- Direct Solana RPC verification of token supply and largest accounts
- Cross-venue aggregation of DEX pools, liquidity, and volume
- Token-versus-reference price comparison from an independent price service
- Deterministic anomaly detection against stored observation baselines
Exclusions and transformations
- UTC clock normalization
- Raw payload hashing for every source fetch
- Sources that failed during collection are recorded, not imputed
Comparison window: Stored observation history for this asset
Confidence rationale
Confidence is computed from source coverage, cross-venue agreement, baseline depth, and independent verification. This run scored 0.6 (moderate).
Limitations
- txns_h1 and txns_24h metrics are null in the current snapshot, preventing analysis of recent transaction activity trends.
- dex_price_usd is unavailable, limiting direct comparison between DEX pricing and reference pricing mechanisms.
- dexscreener data source failed (HTTP 429), potentially reducing data completeness for certain metrics.
- The 11.5-hour baseline may not capture full market cycles or longer-term premium dynamics.
- Top 5 holder concentration includes pool and custodial accounts, which may overstate true ownership concentration.
- pair_count metric is null, obscuring the number of active trading venues.
- Largest-account concentration includes liquidity pools and custodial accounts; it is not a beneficial-owner distribution.
- Sources unavailable this cycle: dexscreener: [dexscreener] HTTP 429 from https://api.dexscreener.com/latest/dex/tokens/Xsc9qvGR1efVDFGLrVsmkzv3qi45LTBjeUKSPmx9qEh.
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This is informational research produced by an automated system. It may contain errors, omissions, or delayed data.
Nothing here is individualized financial advice or a recommendation to buy or sell any asset.