Hyperliquid RWA Volume Surpasses Crypto Trading for First Time
For the first time, Hyperliquid's real-world asset (RWA) markets have surpassed crypto trading as its largest category. Between July 13 and July 19, $25.1 billion in volume was generated through tokenized stocks, indexes, and commodities on the exchange—accounting for 52% of a total weekly volume of $48.2 billion. This shift is attributed to HIP-3, Hyperliquid's framework that enables external developers to create custom markets using its infrastructure. Single-stock contracts made up 61% of RWA activity and offer synthetic exposure to traditional assets with extended trading hours beyond conventional exchanges. The growth has been described as a 'major structural shift' by Circle CEO Jeremy Allaire. Hyperliquid earned $7.6 million in revenue during the week, ranking third among crypto applications behind Tether (USDT) and Circle (CRCL). RWA holders have increased 32% to 1.25 million over the past month, with tokenized assets reaching a total value of $36.7 billion.
Topics: crypto trading volume Hyperliquid RWA tokenized assets