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All-time RWA perp volume just crossed $1T. And $940B of it has traded in 2026 alone, nearly 11x of all volume in 2025. Adoption is increasingly moving onchain: decentralized venues went from 32% of RWA perp volume in 2025 to 78% this year. All through a rough stretch of conflict in the Middle East, the first Fed hike in three years, and sticky inflation. The emergence of 24/7, permissionless venues that never close has become a significantly powerful primitive that has bled over into the tradfi space, and is gradually replacing legacy structures. data: @artemis

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