RWA perpetual contracts reached $524.7 billion in trading volume in Q1, a year-over-year increase of 1666%.

This is not just a simple numbers game, but a rewriting of Wall Street pipelines by crypto derivatives.
Hyperliquid's HIP-3 product share soared from 2.8% to 28.6%, with daily open interest jumping from $850 million to $4.82 billion.
Commodities still dominate, but stock and ETF perpetual contracts have begun to eat into market share.
The underlying logic: traditional financial income streams—dividends, interest, rent—are being tokenized and packaged into perpetual contracts.
Wall Street pipeline operators have discovered that on-chain settlement is faster, cheaper, and more transparent.
But the risks are equally real: leverage on top of leverage, underlying asset volatility could trigger chain reactions of liquidations.
Regulations are still unclear; if something goes wrong, who will bear the responsibility?
$q1 #hype #hip