💸 Real-world assets just took over a crypto exchange

Hyperliquid is a decentralized perpetual futures exchange — and last week it crossed a line it had never crossed before.

From July 13–19, tokenized real-world assets (stocks, bonds, funds on-chain) drove $25.1B in volume, or 52% of Hyperliquid's $48.2B weekly total. First time ever one category outweighed everything else combined — and per ARK Invest's research director, Hyperliquid's RWA market alone beat the combined crypto-perp volume of every other DEX.

Over the same month, RWA holders grew 32% to 1.25 million users, still a sector most people call a niche experiment. Circle's co-founder called it a "major structural shift." NYSE parent ICE is already asking regulators to clear the way for 24/7 on-chain futures. Per Blockworks.

The kind of milestone people tend to reference later as the moment it became obvious.

Cointelegraph