Bitwise CIO: "On-chain finance" will take off ahead of schedule; Hyperliquid's trading volume exceeded $11.5 billion last weekend.

According to Odaily Planet Daily, Bitwise Chief Investment Officer Matt Hougan stated that while it was previously estimated that traditional markets would take 5 to 10 years to migrate to on-chain on a large scale, the influx of investors into crypto platforms to trade tokenized assets during the US-Israel attacks on Iran and the closure of major global stock markets significantly accelerated expectations for the widespread adoption of "on-chain finance." The crypto perpetual contract platform Hyperliquid became a trading hub for real-world assets (RWAs) such as crude oil and tokenized gold. "For most of Sunday, on-chain finance was the center of global financial markets," data shows that Hyperliquid's combined trading volume exceeded $11.5 billion over Saturday and Sunday. Furthermore, Tether's tokenized gold product, Tether Gold, saw its 24-hour trading volume surge to over $300 million at one point, and prediction market platforms Kalshi and Polymarket also experienced significant increases in trading volume. (Cointelegraph)