RWA Perpetuals exploding with massive growth, according to a new CoinMarketCap report. $821.8B cumulative volume in just 21 weeks, with weekly volumes now ~$56B (peak $70.6B). CEXs dominate with 72%, with Binance driving most of the flow, while DEXs command 28% of the volume. The report also found that commodities dominate (gold and silver ~65%) but stocks are growing fast (5.7× since Jan). Hyperliquid is emerging as the dominant on-chain venue for RWA perpetuals. It ranks as the #2 platform overall across the entire market, while maintaining a 3×+ lead over competing DEXs. The platform has built strong traction in both commodities and stock perps, positioning itself as the primary destination for on-chain RWA exposure. The Hyperliquid machine seems to be coming for everybody’s lunch.