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Hyperliquid RWA trading tops 50% of volume as tokenized assets surge
Edgen Crypto·Jul 24 2026, 12:11Share to
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[1] RWAs become Hyperliquid's largest trading category (https://cointelegraph.com/news/hyperliquid-rw ...)[2] Here's Why Hyperliquid Is Now a Threat to Robinhood, Kalshi, and Polymarket (https://www.fool.com/investing/2026/07/24/her ...)[3] Uniswap pushes deeper into tokenized assets with permissioned trading pools (https://www.coindesk.com/business/2026/07/22/ ...)[4] Bitwise’s Matt Hougan Backs HYPE and Robinhood for the Next Cycle: Where Does That Leave XRP? (https://247wallst.com/investing/cryptocurrenc ...)
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Jul 24 2026, 12:36
Memecoin market cap falls to $13.3 billion as institutions crowd into crypto
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Jul 24 2026, 12:33
Hyperliquid RWA trading hits $25.1B, topping all other asset categories
Tokenized real-world asset trading on Hyperliquid generated $25.1 billion in weekly volume, surpassing all other asset categories on the decentralized exchange for the first time. "This is a major structural shift in crypto markets, moving away from speculating on endogenous digital commodities," Jeremy Allaire, co-founder and CEO of Circle, said in a Friday X post. RWAs accounted for 52% of Hyperliquid's total $48.2 billion in weekly volume from July 13 to July 19, according to Blockworks data. The RWA category alone was larger than the combined crypto perpetual volume of every other decentralized exchange, ARK Invest research director Lorenzo Valente wrote on X. Over the past month, RWA holders on Hyperliquid grew 32% to 1.25 million users, while total tokenized RWAs rose 3.5% to $36.7 billion, per RWA.xyz. Hyperliquid generated $7.6 million in revenue over the past week, ranking third among crypto applications behind stablecoin issuers Tether ($112 million) and Circle ($45 million), according to DefiLlama. The milestone signals growing demand for tokenized assets onchain and has drawn attention from Wall Street, with NYSE parent Intercontinental Exchange CEO Jeffrey Sprecher urging regulators to create a level playing field for 24/7 onchain perpetual futures. The shift toward RWAs reflects a broader push by both crypto-native firms and traditional financial institutions to bring real-world assets onto blockchain rails. In March, the NYSE partnered with tokenization platform Securitize to develop blockchain-based stock trading infrastructure with 24/7 settlement. Pantera Capital said in July that perpetual futures could become a dominant trading instrument beyond crypto, citing structural advantages over traditional derivatives including 24/7 trading, no contract expiries and continuous price discovery. This article is for informational purposes only and does not constitute investment advice.
Jul 24 2026, 12:31
EU sanctions 14 crypto firms, targets $120B Russia-linked network
**The European Union's 21st sanctions package targets 14 crypto service platforms and introduces a new tool to ban any crypto provider used by Russia.** The European Union on July 23 adopted its 21st sanctions package against Russia, targeting 14 crypto service platforms and the A7 cross-border payments network that has processed nearly $120 billion, as the bloc escalates efforts to choke off financial channels fueling Moscow's war in Ukraine. "We're hitting over a hundred banks and crypto operators, 40-plus vessels in Russia's shadow fleet, and several oil refineries in Russia and Belarus," Kaja Kallas, the EU's high representative for foreign affairs and security policy, said in a statement. "Russia will only negotiate to end its illegal war and stop killing civilians if it is pressured to do so." The package targets 14 unnamed crypto-related service platforms based in Georgia, Panama, the United Arab Emirates, the Marshall Islands, Kyrgyzstan and Belarus, according to the Council of the EU. It also designates four entities linked to the A7 network, a cross-border payments system built for sanctions evasion where the A7A5 stablecoin operates. Chainalysis data shows the network has processed nearly $120 billion to date, while analytics firm Elliptic reported that A7A5 alone moved over $100 billion in a single year. The EU is also freezing assets and banning transactions for 94 banks and extending its transaction ban to 33 additional Russian credit and financial institutions. For the first time, the package introduces an instrument that would allow the EU to ban any transaction between an EU operator and any crypto provider used by Russia, regardless of where that provider is based. The move comes three days after Russia's State Duma passed legislation establishing the country's first comprehensive crypto regulatory framework, set to take effect Sept. 1. Alexey Zyuzin, CEO of the Institute for the Development of the Crypto Industry, said the market is likely to split into two circuits: a legal domestic market under Russian regulatory control and a cross-border segment where sanctions and technological risks will persist. **A Cat-and-Mouse Game That Keeps Escalating** The EU's approach to Russian crypto sanctions has evolved through successive rounds. When the US sanctioned the Garantex exchange in 2022 and the EU followed in early 2025, police seized its website and froze over $26 million in March 2025 — only for the team to relaunch it as a near-copy called Grinex within days. That pattern drove the EU to ban Russia's entire crypto sector in May, and now to target platforms in third countries where Russian users might turn next. **What Changes for Russian Users** Bitcoin and other coins remain legal to own and hold in self-custody wallets. But access is tightening. Exchanges operating under the EU's Markets in Crypto-Assets regulation must verify fund sources and block any entity tied to sanctions. Some users have already seen accounts frozen after deposits traced back to A7A5. "Working with crypto will become more expensive, slower, and somewhat less transparent," Nikolai Zagvozdkin, product development director for crypto at RBC, said. The package also includes 218 new designations — 48 individuals and 170 legal entities — and suspends the automatic adjustment of the international oil price cap for 12 months, a measure the European Commission estimates could cost Russia about 3.5 billion euros ($3.98 billion) annually. This article is for informational purposes only and does not constitute investment advice.