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Over the past year, the total open interest of perpetual contracts on mainstream trading platforms has decreased from $81 billion to approximately $67 billion, while the open interest of RWA linked contracts has increased from almost zero to $9 billion, accounting for 14% of the total. During the same period, the open interest of Bitcoin perpetual contracts decreased by approximately $8 billion, Ethereum decreased by approximately $5 billion, and other tokens decreased by approximately $10 billion in total (source: Bloomberg).