Hyperliquid's Tokenized RWA Trading Surpasses All Other Assets, Dominates Perpetual Exchange

Hyperliquid, with its tokenized real‑world asset (RWA) trading, captured 52 % of its weekly trading volume, becoming the largest trading category on a perpetual exchange.

Hyperliquid’s RWA Revolution: 52 % Market Share

■$25.1 billion in RWA volume accounted for 52 % of the total $48.2 billion weekly volume.

■This marks the first time Hyperliquid has outperformed all other asset categories combined.

$25.1 Billion Volume: RWA Growth Momentum

■The $25.1 billion volume aligns with a 3.5 % increase in total tokenized RWA value, now at $36.7 billion.

■According to RWA.xyz, RWA holders grew 32 % to 1.25 million users.

Competitive Edge: 24/7 Perpetual Futures and Institutional Support

■As Pantera Capital notes, perpetual futures offer 24/7 trading, no expiry, simplified position management, and continuous price discovery, positioning them beyond crypto.

■Intercontinental Exchange (ICE) CEO Jeffrey Sprecher called for a level playing field for 24/7 on‑chain perpetual contracts.

Industry Shake‑up: NYSE and Circle’s Tokenization Strategies

■NYSE partnered with Securitize to build a 24/7 blockchain‑based stock trading infrastructure.

■Circle CEO Jeremy Allaire described RWA trading as a “major structural shift” in crypto markets.

Financial Outlook: $7.6 Million Revenue and Market Position

■DefiLlama data shows Hyperliquid generated $7.6 million in revenue last week.

■This places it third among crypto applications, behind Tether ($112 million) and Circle ($45 million).

Hyperliquid’s RWA‑focused growth signals that tokenization is not merely a trend but a sustainable growth engine in the crypto ecosystem. This development has the potential to create a new equilibrium between speculative assets and real‑world assets.