Hyperliquid's Tokenized RWA Trading Volume Surpasses All Other Assets Combined
Decentralized exchange sees real-world assets account for 52% of its weekly trading volume, signaling a 'major structural shift' in crypto markets.
L'essentiel
- Perpetual DEX Hyperliquid's weekly trading volume in tokenized real-world assets (RWAs) reached $25.1 billion, exceeding all other asset categories combined for the first time.
- This milestone, accounting for 52% of its total $48.2 billion volume, reflects growing demand and marks a significant shift in crypto markets.
Résumé généré par IA
Pourquoi c'est important
Perpetual decentralized exchange Hyperliquid's weekly trading volume in tokenized real-world assets (RWAs) has for the first time exceeded that of all other asset categories combined. This growth is supported by a 32% increase in RWA holders and a 3.5% rise in the total value of tokenized RWAs over the past month.
Perpetual decentralized exchange (DEX) Hyperliquid’s weekly trading volume in tokenized real-world assets (RWAs) exceeded that of all other asset categories combined for the first time.
RWAs generated $25.1 billion in trading volume from July 13 to July 19, accounting for 52% of Hyperliquid’s total weekly volume of $48.2 billion, according to Blockworks data.
“Hyperliquid’s RWA market alone was larger than the combined crypto perpetual volume of every other DEX,” wrote ARK Invest’s research director for digital assets, Lorenzo Valente, in a Thursday X post.
The milestone reflects growing demand for tokenized assets on Hyperliquid. Over the past month, RWA holders grew by 32% to 1.25 million users, while the total value of tokenized RWAs rose by 3.5% to $36.7 billion, according to data aggregator RWA.xyz.
Hyperliquid generated $7.6 million in revenue over the past week, according to DefiLlama. The perp DEX ranked third among crypto applications by weekly revenue, behind stablecoin issuers Tether and Circle, which generated $112 million and $45 million, respectively.
Major “structural shift” for crypto markets: Circle co-founder
Crypto-native firms and traditional financial institutions have expanded tokenized asset offerings as they bring more financial assets onto blockchain networks. In March, the NYSE partnered with tokenization platform Securitize to develop blockchain-based stock trading infrastructure with 24/7 trading and settlement.
Circle co-founder and CEO Jeremy Allaire said growing RWA trading on Hyperliquid marks a “major structural shift” in crypto markets, moving “away from speculating on endogenous digital commodities,” in a Friday X post.
Earlier in July, Pantera Capital said perpetual futures could become a dominant trading instrument beyond crypto, as perps offer structural advantages over traditional derivatives, including 24/7 trading, no contract expiries, simpler position management and continuous price discovery.
Hyperliquid’s growth has drawn attention from Wall Street institutions, including NYSE parent Intercontinental Exchange (ICE), whose CEO, Jeffrey Sprecher, urged regulators to create a “level playing field” for launching 24/7 onchain perpetual futures contracts.
Questions ouvertes
- How will regulators respond to calls for a 'level playing field' for onchain perpetual futures?
- What specific impact will the NYSE/Securitize partnership have on RWA adoption?
- Will Hyperliquid maintain its RWA trading dominance against other DEXs?
