Hyperliquid's RWA trading reached 54% of weekly volume, dominating crypto perpetual DEX volume; BlackRock and Strategy formed Bitcoin Security Consortium; Samsung Wallet adds stablecoin support; BitMEX shutting down in September.
DeFi & Yields ·
Hyperliquid's real-world asset trading reached 54% of its total weekly volume for the first time, with RWA markets on the platform exceeding the combined crypto perpetual volume of all other decentralized exchanges combined. Last week, Hyperliquid generated $50 billion in total volume, of which $26 billion came from RWA trading on HIP-3. Single stocks have dominated RWA activity since June, accounting for 61% of all such trading on the platform, surpassing indices and commodities.
The shift reflects structural changes in how trading infrastructure is organizing around asset classes. Total DEX perpetual volume across all venues reached $79 billion in the period, meaning Hyperliquid's RWA segment alone represented a material share of decentralized exchange activity. The concentration of stock trading on a single venue suggests category-specific aggregation rather than unified crypto-to-RWA consolidation.
Whether RWA trading remains concentrated on crypto-native platforms or fragments across specialized venues remains unclear. The data indicates growing institutional demand for tokenized assets, though it is not yet evident whether this trend will stabilize current market structure or prompt further differentiation among trading venues.