Hyperliquid Overtakes Coinbase With $2.6T Trading Volume

• Hyperliquid surpassed Coinbase, reaching $2.6 trillion in trading volume, nearly double the total.
• The platform launched in 2023 but is already rapidly gaining global exchange market share.
• CoinGlass data shows strong alignment between volume, open interest, and liquidation metrics.

On-chain derivatives platform Hyperliquid is gaining ground in the global crypto exchange market, with new data showing the young decentralized exchange has already surpassed Coinbase in total trading volume. According to Artemis analytics data, Coinbase has recorded roughly $1.4 trillion in volume, while Hyperliquid has reached approximately $2.6 trillion, nearly twice as much.

The milestone is striking given the difference in age between the two platforms. Coinbase, founded in 2012, has operated for more than a decade as a leading centralized exchange, while Hyperli…

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