RWA Perpetual Trading Surges Above $120B

Onchain RWA perpetual volume reached $123 billion in August, extending a four-month run above $90 billion. July recorded a record $147 billion, while RWA perpetuals briefly represented about 20% of onchain perpetual volume. Current open interest stands near $4.9 billion, with TradeXYZ and Variational controlling nearly 90% of reported positions. RWA perpetual trading has expanded rapidly, with monthly volume rising from $0.8 billion t…