According to CoinMeta, as reported by A in early 2021, Lorenzo Valente, the research director of ARK Invest, stated that RWA trading platforms could achieve scale without relying on the liquidity of Bitcoin and Ethereum. Data shows that RWA accounted for 54% of the total trading volume for that week, with RWA accounting for 61% of the trading volume. During the same period, the trading volume of decentralized exchange perpetual contracts reached 79 billion US dollars, with Hyperliquid accounting for 50 billion US dollars. Valente believes that if Trade.xyz accounts for 90% of the trading volume, it may require a higher share of user fees. Most popular applications still rely on shared infrastructure and would only consider building their own chains when the costs of independent operation exceed the value of leasing.