RWA trading volume on Hyperliquid reached $213 billion during the second quarter, according to the platform’s own quarterly report. Total quarterly revenue came in at $169 million, with RWA trading alone accounting for 6.6% of that figure. By the end of July, RWA perpetual futures had nearly matched Bitcoin perpetual contracts in trading volume on Hyperliquid. The number of RWA holders jumped 56% over the past month, reaching 1.6 million investors. HIP-3 RWA perpetual contracts made up 32.2% of Hyperliquid’s total trading volume in Q2 2026, up from 20.7% in Q1 2026.