Wu Shuo learned that ARK Invest researcher Lorenzo Valente said in an X post that among Hyperliquid’s roughly $50 billion trading volume last week, HIP-3 RWA trading contributed about $26 billion, accounting for 54%, marking the first time it has surpassed trading in crypto assets. Since June, individual stocks have replaced indexes and commodities as the main RWA category, now accounting for 61% of related trading volume. The size of Hyperliquid’s single RWA market has already exceeded the combined total of all other DEX crypto perpetual contract trading volumes.

ARK-0.96%
HYPE-0.93%
RWA-0.42%
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