Hyperliquid Q2 Report: RWA Trading Volume Reaches 32.2%, HYPE Up 79%

Hyperliquid Research Collective has released its Q2 2026 report, revealing that the trading volume of Real World Assets (RWA) perpetual contracts on the platform has increased from 1.8% to 32.2%, with a quarterly trading volume of $213 billion, accounting for nearly one-third of the platform's total trading volume. The report indicates that during Q2, the Hyperliquid ecosystem gained more attention from traditional finance, with three HYPE ETFs beginning to trade, providing investment channels for institutional investors who cannot directly hold tokens. Meanwhile, fund management companies like Hyperliquid Strategies continue to build HYPE reserves, with funds and related treasuries holding approximately 7.7% of the HYPE supply. In terms of data, HYPE surged 79% in Q2, reaching a historic high of $76.90, while Bitcoin fell 14% during the same period. Hyperliquid protocol revenue has recovered after hitting a low in April, with monthly revenue reaching $169 million at the end of the quarter, and cumulative protocol revenue surpassing $1 billion, of which $141 million was returned to holders through buybacks.

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