Hyperliquid RWA trading surpasses all other asset categories. Tokenized RWA trading became Hyperliquid's largest trading category for the first time, accounting for more than half of the decentralized exchange's weekly trading volume. Perpetual decentralized exchange (DEX) Hyperliquid's weekly trading volume in tokenized real-world assets (RWAs) exceeded that of all other asset categories combined for the first time. RWAs generated $25.1 billion in trading volume from July 13 to July 19, accounting for 52% of Hyperliquid's total weekly volume of $48.2 billion, according to Blockworks data. "Hyperliquid's RWA market alone was larger than the combined crypto perpetual volume of every other DEX," wrote ARK Invest's research director for digital assets, Lorenzo Valente, in a Thursday X post. The milestone reflects growing demand for tokenized assets on Hyperliquid. Over the past month, RWA holders grew by 32% to 1.25 million users, while the total value of tokenized RWAs rose by 3.5% to $36.7 billion, according to data aggregator RWA.xyz. Hyperliquid generated $7.6 million in revenue over the past week, according to DefiLlama. The perp DEX ranked third among crypto applications by weekly revenue, behind stablecoin issuers Tether and Circle, which generated $112 million and $45 million, respectively. Hyperliquid: Perpetual Futures Volume, 2-year chart. Source: Blockworks Major "structural shift" for crypto markets: Circle co-founder. Crypto-native firms and traditional financial institutions have expanded tokenized asset offerings as they bring more financial assets onto blockchain networks. In March, the NYSE partnered with tokenization platform Securitize to develop blockchain-based stock trading infrastructure with 24/7 trading and settlement. Circle co-founder and CEO Jeremy Allaire said growing RWA trading on Hyperliquid marks a "major structural shift" in crypto markets, moving "away from speculating on endogenous digital commodities," in a Friday X post. Earlier in July, Pantera Capital said perpetual futures could become a dominant trading instrument beyond crypto, as perps offer structural advantages over traditional derivatives, including 24/7 trading, no contract expiries, simpler position management and continuous price discovery. Hyperliquid's growth has drawn attention from Wall Street institutions, including NYSE parent Intercontinental Exchange (ICE), whose CEO, Jeffrey Sprecher, urged regulators to create a "level playing field" for launching 24/7 onchain perpetual futures contracts. Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph's Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

Securitize, a digital asset firm that tokenises real-world assets for institutional clients, has been named to CNBC and Statista's 2026 fintech list. The company appears in the digital assets segment, one of 40 firms selected in that category from approximately 3,500 evaluated companies. The recognition comes weeks after Securitize completed its public listing through a merger with Cantor Equity Partners II, raising $400 million. Shares rose 3% on their first day of trading on 2 July 2026. BlackRock is among the company's investors. Securitize also features on the Forbes 2026 Fintech 50 list in the blockchain and digital assets segment. The public listing allows retail and institutional investors to take direct positions in the tokenisation sector without navigating crypto exchanges.

Did Hyperliquid kill Solana? Milk Road Inc. just ran the numbers... Chevy Cassar JUL 23, 2026 Here's what Milk Road Inc. has got for you today: * | Did Hyperliquid kill Solana? * | The Milk Road Show: Ethlabs is Planting the Root of Global Finance. * | Tom Lee: ETH today is Amazon in 2003. Securitize is the platform institutions trust to tokenize their assets onchain. See what nine years of regulated tokenization looks like. (But those people are watching the price, not the chain.) Because even though SOL is down ~73% from its all-time high, its actual usage just hit the highest levels in its history. And that difference makes up the trade. The call the market made this year: If an app-specific chain (like Hyperliquid, which runs a derivatives exchange) can out-earn a general-purpose blockchain (like Solana), then the general-purpose one must be worth less. And back in May, the app-specific one won a round. Hyperliquid out-earned Solana on weekly fees, $12.6M to $11.8M, and passed it in fully diluted value. So the market repriced SOL like the business was rolling over: But Solana is having its busiest year ever... Let's start with the usage: * June saw 3.77B transactions in a single month, an all-time high. * Daily active addresses are back near 7M - retesting yearly highs. * Throughput is running around 1,100 transactions per second, close to a record. What actually left Solana was the speculation, the leverage, and the rich multiple. The usage stayed (and grew). Next, let's go one layer down - into the plumbing... Assets still run on decades-old infrastructure: Slow settlement, walled access, paperwork everywhere. Tokenization fixes that but who's actually doing it at an institutional scale? With nearly nine years in the business, Securitize has become the platform institutions trust to bring assets onchain. Here's why it stands out: * BlackRock, Morgan Stanley & ARK Invest have all invested in Securitize * NYSE, VanEck & BNY have chosen Securitize to tokenize their stocks. * The only public pure-play in tokenization infrastructure This isn't a crypto project waiting for TradFi to catch up. It's the regulated bridge that the largest asset managers in the world already build on. Did Hyperliquid kill Solana? (P2). Spot SOL ETFs are live and already hold north of $1B... Market cap is back above ~$45B... There are CME futures, prime-broker desks taking SOL as collateral, and Visa & Stripe settling real payments on the chain... That's the kind of institutional base a two-year-old derivatives venue (like Hyperliquid) can't spin up on command. Then there's the AI play... AI agents are about to start paying each other (for API calls, for compute, for data) in tiny stablecoin payments that fire in real time. The chain that wins that flow is the one built for small, fast, cheap transactions - that's Solana (and it's a demand wave Hyperliquid isn't even in the gunning for). That said - there's still real risk here... An app-specific chain out-earning a general-purpose one is a real signal that the ranks are starting to shift (that May crossover wasn't a fluke). But these two are turning into different bets. Hyperliquid is a concentrated bet on derivatives, while Solana is the broad rail - think payments, consumer apps, institutions, agents, and the big winner of late: real-world asset tokenization. Point is: both chains can win. What that fee crossover repriced was Solana's slice of derivatives - not its payments business, and definitely not its AI agent play. I'm (personally) still long SOL - and so are its in-house big brains John (PRO crypto analyst) and Vincent (PRO AI analyst). And not just 'cause Milk Road Inc. all bought it ages ago - Vincent picked it up back in March on the agent-payments thesis, and has sat through the chop since. Usage this strong doesn't stay disconnected from price forever. Milk Road Inc. just have to be patient. P.S. Want to see what prices Milk Road Inc. is looking to buy SOL at? Try Milk Road PRO for a buck and see all of its analyst's trades in real time! Bite-sized cookies for the Road. If you hold HOOD, read this. Robinhood has grown into an all-in-one platform for stocks, crypto, IRAs, prediction markets, credit cards and advanced trading tools. Tom Lee: ETH today is Amazon in 2003 - stuck in a range, while the real platform shift brews underneath. Lyn Alden: Software stocks have been getting crushed and the repricing may not be over yet... Novogratz: Even Texas is turning on data centers. Governor Abbott and the lieutenant governor both said "we're not necessarily 'pro data center' anymore." Wanna use your Bitcoin without selling it? Peoples Reserve goes beyond basic crypto lending with borrowing, mortgage, yield, swap, and spending tools. Milky memes. Roadie review of the day.