Crypto as Infrastructure

Real-world-asset perpetuals are growing on Hyperliquid's builder-deployed HIP-3 markets, but the volume data does not prove the multichain thesis Dragonfly's Haseeb Qureshi advances. The Block reports HIP-3 now carries nearly half of Hyperliquid's perpetuals volume, up from about 2%. Those figures are unverified secondary reporting, and the thesis is an investor's forecast.