RWA Perpetuals: Volumes Surge to $3.16 Trillion

RWA perpetuals market exploded from $822 billion in May to $3.16 trillion three months later, with monthly volumes setting fresh records and stocks accounting for more than 60% of activity. Binance, Hyperliquid, OKX and Bitget control 86% of the combined CEX and DEX flow, positioning them as primary beneficiaries if CZ's comments on on-chain stock IPOs materialize and extend RWA perpetuals market growth and CEX DEX volumes into 2026.