Bitwise’s Matt Hougan called it the “weekend that changed finance” as investors clambered onto Hyperliquid to trade the Israel-Iran conflict.
Bitwise chief investment officer Matt Hougan says he’s drastically cut his estimates of when “on-chain finance” will take off after seeing investors pile into crypto platforms such as Hyperliquid to trade tokenized assets amid the US-Israel attack on Iran.
In a post on Tuesday titled “The weekend that changed finance,” Hougan said crypto perps futures platform Hyperliquid became the epicenter for trading real-world assets like crude oil and tokenized gold while the US, European and Asian stock exchanges were closed at the time of the first attack on Saturday at about 3:30 am UTC.
“For most of Sunday, onchain finance was the center of the financial world,” he said, adding that he previously expected traditional markets to take five to 10 years to move onchain but now sees that shift happening much sooner.
