Hyperliquid Overtakes Coinbase in Annual Trading Volume, Signalling Shift Toward On-Chain Derivatives
Hyperliquid, a decentralized perpetual futures exchange, has surpassed Coinbase in total notional trading volume, highlighting a growing shift in trader preference toward on-chain platforms. Data shared on February 10 by on-chain analytics firm Artemis shows that Hyperliquid processed approximately $2.6 trillion in notional trading volume in 2025. By comparison, Coinbase ...





























