Did RWA futures really overtake crypto? Only if you ignore 90% of the market
A new report from OKX and Token Terminal says real-world-asset (RWA) futures on trade.xyz edged past crypto futures on Hyperliquid in July. The headline numbers were $107.6 billion of RWA-contract volume against $105.7 billion of crypto-contract volume. That was a selected-venue crossover, not an industry-wide change in market leadership. The underlying report treats trade.xyz and…










