Hyperliquid’s (CRYPTO: $HYPE) real-world asset markets have overtaken crypto as the exchange’s largest trading category for the first time, pushing tokenized stocks, indexes and commodities to the center of its perpetual futures business.
RWA-linked contracts generated $25.1 billion in volume between July 13 and July 19, representing 52% of Hyperliquid’s $48.2 billion weekly total
The category traded more than every other asset group on the decentralized exchange combined. ARK Invest digital assets research director Lorenzo Valente said Hyperliquid’s RWA market alone was larger than the combined crypto perpetual volume across every other decentralized exchange. The result follows a rapid rise in HIP-3, the framework that allows outside builders to launch custom markets using Hyperliquid’s trading infrastructure.
More From Cryptoprowl: Single-stock contracts accounted for 61% of RWA activity, ahead of equity indexes and commodities. Those products provide synthetic exposure to traditional market prices without ownership of the underlying shares, while remaining available through nights and weekends when conventional exchanges are closed. That wider access has become one of the strongest draws for onchain perpetuals.