Hyperliquid's RWAs Surpass All Other Asset Categories in Trading Volume

Hyperliquid's perpetual decentralized exchange (DEX) has marked a significant milestone in its growth. According to Blockworks data, the platform's weekly trading volume in tokenized real-world assets (RWAs) exceeded that of all other asset categories combined for the first time. RWAs generated $25.1 billion in trading volume from July 13 to July 19, accounting for 52% of Hyperliquid's total weekly volume of $48.2 billion.

The milestone reflects growing demand for tokenized assets on Hyperliquid. Over the past month, RWA holders grew by 32% to 1.25 million users, while the total value of tokenized RWAs rose by 3.5% to $36.7 billion, according to data aggregator RWA.xyz.

Hyperliquid generated $7.6 million in revenue over the past week, according to DefiLlama. The perp DEX ranked third among crypto applications by weekly revenue, behind stablecoin issuers Tether and Circle, which generated $112 million and $45 million, respectively.