HYPE continues to pull back, but Hyperliquid's growth is still accelerating. HIP-3 pushed the share of RWA trading in stocks, commodities, etc., to briefly rise to 74%, and the platform's share in the global perpetual contracts market also increased to 10.1%. Trade.xyz is temporarily in the lead, with more deployers rushing to grab popular tickers and bring in capital. Hyperliquid's next wave of expansion might be driven by RWA.