Hyperliquid's weekly trading volume for Real World Assets (RWA) has surpassed that of crypto assets for the first time, capturing 54% of the total trading volume, according to ARK Invest's Crypto Research Director Lorenzo Valente. The RWA trading volume reached $26 billion, with single stocks comprising 61% of this figure, outpacing indices and commodities since June. Valente highlighted that the total decentralized exchange (DEX) perpetual contract trading volume was $79 billion last week, with Hyperliquid contributing $50 billion. This indicates that Hyperliquid's RWA market alone has exceeded the combined crypto perpetual contract trading volume of all other DEXs. Valente suggests that RWA trading is developing its own landscape, independent of traditional crypto assets, and emphasizes the importance of focusing on sub-segments within RWA trading.