a16z: RWA Perpetual Contract Trading Volume Reached $117.3 Billion in August, On-Chain Trading Share Rose to 86%

Odaily reports: a16z crypto stated that the trading scale of RWA perpetual contracts tied to equities, gold, and other traditional assets has grown rapidly, with trading volume reaching $117.3 billion in August 2026, a 44x increase from a year ago, and open interest reaching $4.8 billion.

Of this, on-chain RWA perpetual contract trading volume in August was approximately $101 billion, accounting for 86% of total trading volume, while centralized exchange trading volume was approximately $16 billion. By asset class, equities accounted for 48% of August trading volume, while commodities and indices accounted for 28% and 18%, respectively.

a16z stated that after Hyperliquid launched HIP-3 in October 2025, developers could deploy their own perpetual contract markets based on HyperCore, further driving the migration of RWA perpetual trading on-chain.