RWA perps on @HyperliquidX now make up over 50% of the platform’s volume.

That means people are increasingly using Hyperliquid to trade stocks, commodities, indices, and pre-IPO names with crypto-native 24/7 leverage.

For comparison, @Lighter_xyz offers a very similar product set, but Hyperliquid is still doing roughly $178B in 30-day perp volume versus Lighter’s ~$38.5B. That’s around 4.6x more.

And I think a big part of the reason Hyperliquid has such a lead is simple: it got there first and built the stronger liquidity flywheel.

To me, this feels like a pretty natural fit for TradFi traders.

Because if you’re already used to trading stocks or commodities, being able to do it 24/7 on a platform like Hyperliquid or Lighter probably scratches that itch.

https://x.com/stacy_muur/status/2093709011296325688