February 11, 2026

Hyperliquid surpasses Coinbase with $2.6T in notional trading volume

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Hyperliquid has surpassed Coinbase in notional volume, recording $2.6 trillion compared to Coinbase’s $1.4 trillion. This development comes amid a broader shift in the crypto market, where decentralized finance platforms are increasingly capturing market share from centralized exchanges through innovations in on-chain trading efficiency. Additionally, the rise of specialized perpetuals protocols highlights a growing trend toward decentralized alternatives in crypto derivatives trading.

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