Lorenzo Valente(@LorenzoARK):The big boys are entering the arena. In July, @HyperliquidX (via https://t.co/8E2n7L0KFy) had ~80% of RWA perp volume. This week: 26%. The market doubled in that time frame. Weekly RWA perp volume went from ~$20B to ~$40–60B, but CEXes took nearly all of the new flow. Binance went from 3% share to 30% in two weeks. OKX went from zero to 14% this week alone. Gate and Bitget are scaling too. CEXs now hold 64% of the market. They know what’s at stake: if they lose RWA perps to on-chain venues, they lose their claim to being the default trading venue, period.

Lorenzo Valente

@LorenzoARK

Crypto at @ARKinvest I Director of Research I Disclosure:

参加 May 2024

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Lorenzo Valente@LorenzoARK

2026.10.22 15:51

The big boys are entering the arena. In July, @HyperliquidX (via had ~80% of RWA perp volume. This week: 26%. The market doubled in that time frame. Weekly RWA perp volume went from ~$20B to ~$40–60B, but CEXes took nearly all of the new flow. Binance went from 3% share to 30% in two weeks. OKX went from zero to 14% this week alone. Gate and Bitget are scaling too. CEXs now hold 64% of the market. They know what’s at stake: if they lose RWA perps to on-chain venues, they lose their claim to being the default trading venue, period.