Perpetual Futures Trading Volume of Real-World Assets Surpasses $2 Trillion, HIP-3 Accounts for 87%

The trading volume of perpetual futures linked to real-world assets (RWA) has exceeded $2 trillion in cumulative volume for the third quarter. This represents an increase of over 67% compared to the trading volume in the second quarter. The trading volume for RWA perpetual futures reached $2 trillion, while the second quarter's volume was approximately $1.2 trillion. Monthly trading volume surged after exceeding $100 billion in June, with significant increases in July and August. RWA perpetual futures are derivative products that trade contracts linked to price movements without holding the actual assets. Trading has focused on S&P 500-linked contracts and contracts for gold and oil, with the scope of trading expanding in September to include AI and semiconductor-related stocks. The Hyperliquid HIP-3 ecosystem has been growing rapidly since August, accounting for over 87% of RWA perpetual futures trading as of September 24. HIP-3 supports external developers in creating contracts linked to non-crypto assets. While the increase in RWA perpetual futures trading has broadened the trading scope of the on-chain derivatives market, further review is needed regarding the overall market's liquidity stability.

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