DeFi· ★★· neutral·

Variational overtakes Trade.xyz in RWA perpetual volume

  • —Variational topped Trade.xyz in RWA perpetual volume for the first time in a year
  • —No specific volume figures or methodology were disclosed
  • —Valente: RWA perpetuals could become a key growth driver for Hyperliquid
  • —HIP-3 delegates market operations to third parties, deepening Hyperliquid's reliance on external platforms
Why it matters: The rise of RWA perpetuals signals shifting demand toward tokenized assets and intensifies competition among trading venues.
Source: TokenPost