HIP-3 RWA contracts surged to 32.2% of Hyperliquid’s $213 billion Q2 volume, up from 1.8% two quarters prior.
Hyperliquid’s Q2 report showed real-world asset (RWA) perpetual contracts under HIP-3 accounted for 32.2% of trading volume, a sharp rise from 1.8% two quarters ago. Total quarterly volume reached $213 billion, with RWA contracts contributing nearly one-third of platform activity.
The surge coincides with the launch of three HYPE ETFs during the period. Funds and related treasuries held 7.7% of HYPE’s total supply. Hyperliquid generated $169 million in revenue, allocating $141 million to buybacks, pushing cumulative revenue past $1 billion.
The shift highlights growing investor interest in tokenized RWAs as a trading instrument.