According to the second-quarter 2026 report from Hyperliquid Research Collective (HRC), real-world asset (RWA) perpetual contracts have become a fast-growing segment on Hyperliquid. HIP-3-related volume climbed from 1.8% of platform trading in the prior quarter to 20.7%, then to 32.2% in Q2. Quarterly RWA perpetual turnover reached $213 billion, nearly one-third of all Hyperliquid trading. The report also shows growing traditional finance involvement: three HYPE ETFs now trade, giving institutions that cannot directly custody tokens a way in. Money managers including Hyperliquid Strategies have kept building HYPE reserves, and funds plus related treasuries hold about 7.7% of the token's supply. HYPE rose 79% during Q2 and hit an all-time high of $76.9, while Bitcoin fell 14% over the same stretch. Protocol income bottomed in April, then recovered. By the end of Q2, monthly protocol revenue stood at $169 million. Cumulative protocol revenue has crossed $1 billion, and $141 million has been returned to holders through buybacks.
Hyperliquid Research Collective (HRC) published its Q2 2026 report on Hyperliquid's activity, with real-world asset (RWA) perpetuals continuing to grow. HIP-3-related volume accounted for 1.8% of platform trading in the previous quarter, rose to 20.7%, and reached 32.2% in Q2. That translated into $213 billion of quarterly RWA perpetual trading volume, roughly one-third of total platform volume.
The quarter brought more traditional finance interest into the ecosystem. Three HYPE ETFs began trading, providing a channel for institutional investors that cannot directly custody tokens. Hyperliquid Strategies and other money managers continued accumulating HYPE; funds and related treasuries now hold approximately 7.7% of the supply.
HYPE finished Q2 up 79%, setting an all-time high of $76.9. Bitcoin fell 14% over the same period. Protocol revenue had bottomed in April, then recovered to $169 million in the final month of the quarter. Cumulative protocol revenue exceeded $1 billion, including $141 million returned to holders through buybacks.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
