Hyperliquid Decentralized Exchange Real-World Assets Overtake Crypto in Weekly Volume

Hyperliquid, a decentralized perpetuals exchange, reported that real‑world assets (RWAs) surpassed crypto transactions for the first time in a single week. During the period of 13–19 July 2026, RWAs generated $25.1 billion of the exchange’s total $48.2 billion weekly volume, with individual stocks accounting for 61% of the RWA flow. The shift is driven by Hyperliquid’s HIP‑3 mechanism, which enables tokenized stock‑style markets.

Earlier comparisons highlighted Hyperliquid’s lower fees, self‑custody model and large airdrop program versus centralized rivals such as Coinbase, which operates under full regulatory oversight. The surge in tokenized stock trading suggests growing interest in non‑crypto assets on decentralized platforms and could influence future partnerships and regulatory scrutiny.