Hyperliquid's tokenized real-world assets (RWAs) generated $25.1 billion in trading volume from July 13 to July 19, exceeding all other asset categories combined for the first time. RWAs accounted for 52% of the perpetual decentralized exchange's total weekly volume of $48.2 billion, according to Blockworks data. The milestone reflects growing demand for tokenized assets, as RWA holders grew by 32% to 1.25 million users over the past month, while the total value of tokenized RWAs rose by 3.5% to $36.7 billion, according to data aggregator RWA.xyz.
Hyperliquid Ranks Third Among Crypto Apps by Weekly Revenue
Hyperliquid generated $7.6 million in revenue over the past week, according to DefiLlama. The perpetual DEX ranked third among crypto applications by weekly revenue, behind stablecoin issuers Tether and Circle, which generated $112 million and $45 million, respectively.
"Hyperliquid's RWA market alone was larger than the combined crypto perpetual volume of every other DEX," wrote ARK Invest's research director for digital assets, Lorenzo Valente, in a Thursday X post.
Crypto Firms and Traditional Institutions Expand Tokenized Asset Offerings
Crypto-native firms and traditional financial institutions have expanded tokenized asset offerings as they bring more financial assets onto blockchain networks. In March, the NYSE partnered with tokenization platform Securitize to develop blockchain-based stock trading infrastructure with 24/7 trading and settlement.
Circle co-founder and CEO Jeremy Allaire said growing RWA trading on Hyperliquid marks a "major structural shift" in crypto markets, moving "away from speculating on endogenous digital commodities," in a Friday X post.
Earlier in July, Pantera Capital said perpetual futures could become a dominant trading instrument beyond crypto, as perps offer structural advantages over traditional derivatives, including 24/7 trading, no contract expiries, simpler position management and continuous price discovery.
Hyperliquid's growth has drawn attention from Wall Street institutions, including NYSE parent Intercontinental Exchange (ICE), whose CEO, Jeffrey Sprecher, urged regulators to create a "level playing field" for launching 24/7 onchain perpetual futures contracts.
FAQ
What trading volume did Hyperliquid's RWAs generate from July 13 to July 19?
Hyperliquid's tokenized real-world assets generated $25.1 billion in trading volume from July 13 to July 19, accounting for 52% of the platform's total weekly volume of $48.2 billion, according to Blockworks data.
How much revenue did Hyperliquid generate over the past week?
Hyperliquid generated $7.6 million in revenue over the past week, ranking third among crypto applications by weekly revenue behind Tether ($112 million) and Circle ($45 million), according to DefiLlama.
What partnership did the NYSE announce in March regarding tokenized assets?
In March, the NYSE partnered with tokenization platform Securitize to develop blockchain-based stock trading infrastructure with 24/7 trading and settlement.
