Tokenized traditional finance (TradFi) transactions have seen a significant increase on the Hyperliquid platform, accounting for 31.6% of all transactions by the end of January, up from less than 5% the previous month, according to Delphi Digital data. Since late December, the 7-day average share of TradFi has risen from 4.5% to over 20%. During the same period, Hyperliquid's total trading volume reached $261.8 billion, with growing shares in metals, stock indices, and equity markets. The demand for perpetual decentralized exchanges (Perp DEX) is rapidly shifting towards macro exposure.