Bitwise CIO Says "Onchain Finance" Adoption Accelerated as Hyperliquid Logs $11.5B Weekend Volume

Bitwise Chief Investment Officer Matt Hougan said the expected 5 to 10 year timeline for large-scale migration of traditional markets onchain has been sharply accelerated after investors turned to tokenized assets during the period when the U.S. and Israel launched strikes against Iran and major global stock markets were closed, Odaily Planet Daily reports citing Cointelegraph. Crypto perpetuals venue Hyperliquid emerged as a key platform for trading real-world assets such as crude oil and tokenized gold, with combined trading volume surpassing $11.5 billion over Saturday and Sunday. Hougan noted that for most of Sunday onchain finance became the center of the global financial market. Data also showed 24-hour trading in Tether Gold, Tether's tokenized gold product, jumping above $300 million, while volumes on prediction markets Kalshi and Polymarket rose markedly over the same period.