Crypto Scenario Insights
What happened
Real-world asset (RWA) perpetual futures volume on Hyperliquid and Binance recently approached Bitcoin perpetual volume, reaching $61.7 billion in a week.
What we think
The most likely outcome is a continued, measured expansion of RWA perpetual futures, driven by their efficiency and 24/7 accessibility.
Read the analysis
RWA Perpetual Futures Volume Nears Bitcoin: A Structural Shift or Niche Growth?
We explain what happened and what could follow. We do not forecast prices.