Hyperliquid’s RWA trading volume first surpassed that of crypto assets last week, accounting for 54%

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July 24 news: ARK Invest research director Lorenzo Valente posted that Blockworks data shows that real-world asset (RWA) trading on Hyperliquid based on the HIP-3 protocol is growing rapidly. Last week, Hyperliquid’s RWA trading volume first exceeded crypto-asset trading, accounting for 54% of the platform’s total trading volume. Among them, single-stock trading has become the fastest-growing category: since June, stock trading volume has surpassed indices and commodities, and is now about 61% of Hyperliquid’s total RWA trading volume, indicating that on-chain financial markets are expanding from simply trading crypto assets to traditional assets.
Data shows that last week the total trading volume of decentralized exchange (DEX) perpetual contracts was about $79 billion, of which Hyperliquid contributed about $50 billion. HIP-3 RWA trading volume reached $26 billion, even exceeding the combined total of other DEX crypto perpetual contract trading volumes. RWA trading in the future may not fully concentrate on existing crypto trading platforms; different asset categories could form independent leading players. Going forward, competition among trading platforms may shift from vying for crypto-asset traffic such as BTC, ETH, and SOL to competing for on-chain trading demand for real-world assets such as stocks and commodities.
RWA-1.18%
BTC-0.40%
ETH-2.11%
SOL-2.24%
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