Public equities take 46% of RWA perps as traders avoid newer tokens — Here’s why!
Stocks
Public equities have emerged as the dominant force in the RWA perpetuals market, capturing 46% of total open interest. With approximately $2 billion in open interest and $2.2 billion in 24-hour trading volume, stock-based perpetual contracts significantly outperform other asset classes like precious metals and oil. This trend is driven by traders seeking leveraged, 24/7 exposure to established listed companies rather than newer, more volatile RWA tokens. Data indicates that newer token launches have struggled, with only 7.1% of projects launched since 2024 trading above their Token Generation Event price. Furthermore, among 113 projects with a market cap exceeding $100 million, only eight remain profitable for early investors. This performance gap highlights a broader market shift toward established assets as investors avoid the high sell pressure associated with recent token offerings. While major cryptocurrencies like Bitcoin and Ethereum have returned to profit, the overall market sentiment remains cautious regarding the sustainability of newer RWA-linked assets.
Key points
- ▸Public equities command 46% of RWA perpetuals market share with $2 billion open interest.
- ▸Stock-based perpetuals generated $2.2 billion in 24-hour volume across 411 active markets.
- ▸Only 7.1% of tokens launched since 2024 currently trade above their initial TGE price.
- ▸Investors favor established equities over newer RWA tokens due to persistent post-launch sell pressure.
Background
Perpetual contracts are derivative products that allow traders to gain leveraged exposure to an underlying asset without an expiration date. In the context of RWA tokenization, these instruments enable 24/7 trading of traditional financial assets like stocks or commodities on blockchain-based platforms. This bridges the gap between traditional equity markets and decentralized finance liquidity.
Relevance
7.5/10