Historic Report from Hyperliquid: RWA Share Surges to 32.2% as Revenue Surpasses $1 Billion

Hyperliquid’s second-quarter report highlights the platform’s massive growth in the RWA space and its cumulative revenue exceeding $1 billion.

Hyperliquid, one of the most prominent protocols in the decentralized finance (DeFi) world, solidified its position in the sector with its newly released second-quarter data. The real-world asset (RWA)-focused perpetual futures contracts offered under the platform’s HIP-3 protocol have quickly become a primary focus for investors. These contracts, which accounted for only 1.8% of the total trading volume just two quarters ago, reached a 32.2% share in the latest report, becoming the platform’s main growth driver.

According to Hyperliquid’s quarterly report, the trading volume of RWA contracts reached $213 billion. This figure represents approximately one-third of the platform’s total volume. Achieving strong results on the financial performance side as well, the protocol generated $169 million in revenue during the second quarter. While a significant portion of this revenue—$141 million—was used for buyback operations, the platform’s total cumulative revenue surpassed the $1 billion mark, clearing a major milestone.

RWA Adoption Accelerates in the DeFi World

Institutional interest is also increasing for HYPE, the platform’s native asset. During the period, three different HYPE ETFs began trading, while investment funds and treasuries now hold approximately 7.7% of the total HYPE supply.

These figures prove that Hyperliquid has evolved beyond being just a trading platform into an RWA-focused financial giant. The process of moving traditional financial assets onto the blockchain has reached a new dimension through the liquidity and trading variety offered by the platform. In particular, buyback strategies and the participation of institutional funds are directly contributing to the ecosystem’s sustainable growth.