According to CoinMeta, based on DefiLlama Research data, from January to June 2026, approximately 169,000 wallets, accounting for 31.7% of HyperLiquid new users, made their first transaction in the RWA market. DefiLlama Co-founder 0xngmi further stated that among users who made their first transaction in RWA, about 80.9% continued to trade RWA thereafter and did not enter the cryptocurrency trading market. This indicates that HyperLiquid's RWA products indeed brought in a new user base, but most of these users did not go on to become cryptocurrency traders. There is still a clear stratification of users between them and those with a demand for cryptocurrency trading.