Real-world asset perpetual futures on Hyperliquid exceeded crypto trading volume for the first time, with $25.1B in RWA volume (52% of platform total) driven primarily by single-stock derivatives.
DeFi & Yields ·
Real-world asset perpetual futures on Hyperliquid accounted for $25.1B in trading volume—52% of the platform's total—in a single week, marking the first time RWA volume surpassed crypto trading on the exchange. Single-stock derivatives drove the majority of this activity at 61% of all RWA volume, with Hyperliquid's equity perp market now exceeding the combined crypto perpetual futures volume across all other decentralized exchanges. The shift reflects growing demand for price exposure to individual equities through licensed products, rather than tokenized shares trading onchain.