CoinMeta data: Hyperliquid Based on HIP-3, this market accounted for nearly 50% of the platform's perpetual contract trading volume in the summer of 2026, compared to about 2% at the beginning of the year. During the same period, the total trading volume of perpetual contracts for RWA increased from approximately $85 billion per month in January to around $470 billion per month in June. Binance, Hyperliquid, and OKX together accounted for over 80% of the market share in this category. Hasib Qurashi, the managing partner of Dragonfly, stated that the industry needs multiple dedicated blockchains that meet the compliance requirements of institutions, rather than a situation where one player dominates everything.