Hyperliquid sees RWA trading volume exceed 50% of total turnover for the first time, reflecting a significant shift in the DeFi landscape.
In a significant milestone for the decentralized exchange Hyperliquid, trading volume for Real World Assets (RWA) surpassed all other categories from July 13 to 19, according to Blockworks data.
During this week, RWA trading reached $25.1 billion, constituting 52% of the platform's total trading volume of $48.2 billion. This marks the first instance where a single category has eclipsed half of Hyperliquid's turnover.
Lorenzo Valente, Director of Digital Asset Research at ARK Invest, heralded this shift as a "new era for DeFi," highlighting that RWAs accounted for 54% of total trading volume in that period. He noted that the volume of RWAs on Hyperliquid exceeded that of cryptocurrency perpetual contracts across other decentralized exchanges.
"We are entering a new era for DeFi," said Valente, emphasizing the significance of this trend in reshaping the market dynamics.
Additionally, Hyperliquid reported a revenue of $7.6 million for that week, placing it third among crypto applications, behind Tether and Circle.
Shift in Market Dynamics
Jeremy Allaire, co-founder and CEO of Circle, remarked on the RWA trading surge as a "significant structural shift" within the crypto market, indicating a transition away from speculation on digital commodities and towards more robust market infrastructures.
Allaire stated, "This is a major structural shift, and possibly the turning point in the evolution of crypto markets."
The growth of RWAs extends beyond Hyperliquid, with the number of RWA holders climbing nearly 35% in the past month, reaching 1.3 million, while the total value of these assets increased by 3.5% to $36.7 billion.
Moreover, Hyperliquid has established itself as a leading platform for trading perpetual futures, with open interest volume exceeding $10 billion in June.
