Binance Research said management uncertainty at Nvidia emerged over the weekend while US cash equities were closed, leaving perpetual futures to provide early price discovery.

Binance's NVDAUSDT contract printed a low of minus 4.2% versus the last US close ahead of the US reopen, according to the post on X.

Over the past 24 hours, Binance ranked first in Nvidia perpetual volume at $360.35 million, equal to 44% of the top eight venues.

The exchange also ranked first in open interest at $90.57 million, or 30.1% of the top eight.