Analysis: Variational's RWA perpetual contract trading volume surpasses Trade.xyz for the first time in over a year

Odaily News: Lorenzo Valente, Head of Digital Asset Research at investment firm ARK Invest, posted on X that Variational's RWA perpetual contract trading volume has surpassed Trade.xyz for the first time in over a year. He believes that RWA perpetual contracts will become an important growth driver for Hyperliquid in the future, potentially contributing around 90% of its future growth. However, HIP-3 delegates the operation of related markets to third parties, which also means Hyperliquid needs to rely on external platforms to maintain competitiveness. He expects that competition in the RWA perpetual contract market will further intensify.