Odaily Planet Daily reports that Matt Hougan, Chief Investment Officer at Bitwise, stated that it was previously estimated it would take 5 to 10 years for traditional markets to undergo large-scale migration on-chain. However, during the period when the U.S. and Israel launched strikes against Iran and major global stock markets were closed, a surge of investors flooded crypto platforms to trade tokenized assets, significantly accelerating the anticipated timeline for the adoption of "on-chain finance." The crypto perpetuals platform Hyperliquid has become a hub for trading real-world assets (RWA) such as crude oil and tokenized gold. “For most of Sunday, on-chain finance became the center of the global financial market,” according to data showing Hyperliquid’s combined trading volume exceeded $11.5 billion over Saturday and Sunday. Additionally, the 24-hour trading volume of Tether Gold, Tether’s tokenized gold product, spiked above $300 million, while trading volumes on prediction markets Kalshi and Polymarket also rose significantly. (Cointelegraph)
Bitwise CIO Predicts Early Surge in On-Chain Finance, Hyperliquid Reports $11.5 Billion Weekend Volume
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Summary
Bitwise CIO Matt Hougan cited on-chain data showing that the shift to on-chain finance is occurring faster than expected. With global markets closed amid U.S.-Israel-Iran tensions, crypto platforms experienced increased activity. Hyperliquid’s weekend volume reached $11.5 billion, driven by tokenized assets such as gold and oil. On-chain analysis reveals that Tether Gold’s 24-hour volume exceeded $300 million, while prediction markets Kalshi and Polymarket also saw significant growth.
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