DeFi· ★★★· bullish·

Castle Labs: Onchain RWA perpetual volume up 100x since October 2025

  • —RWA perpetual volume reached $123 billion in August 2026, 15% of onchain volume
  • —Onchain perpetual open interest hit a record $15.18 billion
  • —Hyperliquid holds over 56% of DEX open interest, Aster 9.7%
  • —RWA made up over 27% of perpetual volume in July 2026
Why it matters: Onchain derivatives on equities and commodities are pulling liquidity from centralized venues, raising competition and price-gap risks when underlying markets are closed.
Source: TokenPost
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