RWA Perpetual Futures Trading Volume Nears Bitcoin's on Hyperliquid and Binance

The trading volume of perpetual futures tied to tokenized stocks and commodities has nearly matched that of Bitcoin perpetuals on two major exchanges, Hyperliquid and Binance. According to Talos, the seven-day combined volume across tracked real-world asset (RWA) perps reached $61.7 billion, accounting for 99.2% of Bitcoin perpetual volume.

Tokenized equity contracts made up 57.8% of the total, followed by commodities at 28.2%. The value of onchain RWAs has grown to about $36.8 billion, excluding stablecoins.

Circle co-founder Jeremy Allaire said that growing RWA trading on Hyperliquid signals crypto markets moving away from speculating on endogenous digital commodities.