most perp dexes still live off 𝗰𝗿𝘆𝗽𝘁𝗼 volume

$HYPE degens spent Q2 rotating into 𝘁𝗿𝗮𝗱𝗳𝗶

q2 report dropped aug 6, receipts:

→ RWA perps went from 1.8% of all trading to 32.2% in three quarters

→ $213B+ RWA volume in Q2 alone

→ RWA holders up 56% to 1.6M+

→ RWA perps hit 99.2% of $BTC perp volume by end of july

→ $169M+ Q2 revenue, $141M+ of it went to buybacks

→ $1B+ cumulative revenue crossed

𝘁𝘂𝗿𝗻𝘀 𝗼𝘂𝘁 𝗱𝗲𝗴𝗲𝗻𝘀 𝘄𝗶𝗹𝗹 𝘁𝗿𝗮𝗱𝗲 𝗮𝗻𝘆𝘁𝗵𝗶𝗻𝗴 𝗶𝗳 𝘆𝗼𝘂 𝗽𝘂𝘁 𝗹𝗲𝘃𝗲𝗿𝗮𝗴𝗲 𝗼𝗻 𝗶𝘁

tradfi perps are basically neck and neck with bitcoin perps on crypto's biggest perp venue now

and it took nine months

july already had back to back weeks where RWAs did over half the platform's volume

if that holds, Q3 might be the quarter tradfi flips crypto on its own turf

watching this one 👀

#Hyperliquid #RWA