Hyperliquid Reports Stocks Outpace Crypto in Trading Volume
For the first time, Hyperliquid reported that trading volume for stocks and commodities surpassed crypto. According to ARK Invest's Lorenzo Valente, this marks a significant shift toward real-world assets (RWAs) on decentralized exchanges. During July 13–19, RWAs accounted for $25.1 billion of Hyperliquid’s total weekly volume of $48.2 billion—reaching up to 54% as per updated figures. This milestone is notable given that the entire perpetual DEX industry processed around $79 billion in trading last week, with Hyperliquid handling nearly two-thirds ($50 billion). The RWA segment alone exceeded combined crypto volume on other decentralized exchanges. This shift was enabled by HIP-3, a framework launched in October 2025 allowing third parties to build perpetual markets using Hyperliquid’s infrastructure. Valente highlighted that individual stock trading now dominates within the platform's RWA category and suggested dedicated platforms for RWAs may emerge as crypto-focused venues lose relevance. ARK has been monitoring Hyperliquid since early 2025, with CEO Cathie Wood comparing it to Solana in its earlier days.
Tickers: $SKHYV
Topics: crypto_trading decentralized_exchanges Hyperliquid real_world_assets