Bitwise CIO: "On-Chain Finance" to Erupt Earlier, Hyperliquid's Weekend Trading Volume Exceeds $11.5 Billion

Odaily News Bitwise Chief Investment Officer Matt Hougan stated that he previously estimated it would take 5 to 10 years for traditional markets to migrate to on-chain at scale. However, during the US-Israel attack on Iran and the closure of major global stock markets, a large number of investors flooded into crypto platforms to trade tokenized assets, significantly advancing his expectations for the adoption timeline of "on-chain finance." The crypto perpetual contracts platform Hyperliquid became a trading hub for real-world assets (RWA) such as crude oil and tokenized gold. "For most of Sunday, on-chain finance was the center of the global financial markets." Data shows that Hyperliquid's combined trading volume over Saturday and Sunday exceeded $11.5 billion. Additionally, the 24-hour trading volume of Tether's tokenized gold product, Tether Gold, once surged to over $300 million, while trading volumes on prediction market platforms Kalshi and Polymarket also saw significant increases. (Cointelegraph)