RWA derivatives OI surpasses $600 million, with significant increases in market share for Lighter and Hyperliquid

Wu Shuo has learned that, according to data compiled by Eugene Bulltime, Head of Contribution Capital, on-chain RWA derivative trading has gradually gained attention. Currently, Lighter ranks first in RWA OI with 280 million USD, accounting for approximately 16% of the platform’s total holdings. Its market share in RWA derivatives has increased from 29% to nearly 50% over the past month. Hyperliquid, boosted by HIP-3 market support, increased its market share from 15% to 30%. Although Ostium maintained a major share this year, it has begun to lose its leading edge. Notably, the growth of Lighter and Hyperliquid has actually brought in additional liquidity, with RWA OI rising from 384 million USD to 607 million USD.