Altcoin demand faces $18B threat as capital shifts to RWA perpetuals

Data from Talos indicates that daily volume in perpetual futures for real-world assets (RWA) tied to equities, commodities, and indices surged from under $1 billion in January to $18.8 billion between September 3 and 9. This shift suggests a competitive threat to altcoins, as traders increasingly access leverage and volatility through traditional asset contracts rather than new tokens. While crypto-perpetual volume declined, total futures activity remained stable, with traditional-asset contracts filling the gap. Platforms like Hyperliquid and Binance show significant volume in these traditional asset perps, highlighting a growing trend of crypto venues capturing trading activity unrelated to digital assets.