Bitwise CIO: "On-chain finance" will explode ahead of schedule, Hyperliquid's trading volume exceeded $11.5 billion last weekend
Odaily reported that Bitwise Chief Investment Officer Matt Hougan stated that he previously expected the traditional market to take 5 to 10 years to migrate massively onto the blockchain. However, during the period when the US and Israel launched attacks on Iran and major global stock markets were closed, a large number of investors flocked to crypto platforms to trade tokenized assets, significantly accelerating the anticipated timeline for the adoption of "on-chain finance." The perpetual contract platform Hyperliquid has become a trading hub for real-world assets (RWA) such as crude oil and tokenized gold. "For most of Sunday, on-chain finance became the center of the global financial market." Data shows that Hyperliquid's total trading volume exceeded $11.5 billions over Saturday and Sunday. Additionally, Tether's tokenized gold product, Tether Gold, saw its 24-hour trading volume surge above $300 millions at one point, and trading volumes on prediction market platforms Kalshi and Polymarket also increased significantly.
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