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RWA-linked perps pull volume as altcoin share stays limited

RWA perpetuals tied to equities, commodities, indices and pre-IPO exposure rose to $18.8B in Sept. 3-9, an 18.5% share of futures volume in Talos' sample.

Reported · Written up by our desk · Market Structure

CryptoSlate reports that daily volume in RWA perpetual futures tied to equities, commodities and indices climbed from under $1 billion in January to $18.8 billion during Sept. 3-9, reaching 18.5% of futures volume across the venues Talos tracked.

The same data set showed crypto-perpetual volume falling over the comparison period while total futures activity stayed roughly flat, with traditional-asset contracts filling the gap and increasing the competitive pressure on altcoins by letting traders access leverage and 24/7 markets without needing exposure to a new token, according to CryptoSlate.

CryptoSlate also cited Talos analysis indicating traditional-asset perps made up 28% of futures volume on Hyperliquid and 24.8% on Binance in its sample, with oil leading weekly gains as Brent crossed $100, highlighting how events outside crypto can drive trading.

In a separate set of wallet data, CryptoSlate said DefiLlama classified 169,514 new Hyperliquid wallets as RWA-first from Jan. 1 through June 30, representing 31.7% of new wallets and generating $111.6 billion of trading volume, while those wallets accounted for 8.3% of main trading fees paid by new users in the study.

Latest closeBrent $103.93 ▲3.7%

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