Hyperliquid Surpasses Coinbase with Twice Its 2025 Notional Trading Volume

As a major step in the growth of on-chain trading activity, Hyperliquid, a decentralized perpetual futures exchange built on its own blockchain, has outperformed Coinbase in total notional trading volume for 2025, showing the increasing trend of traders toward decentralized finance. Hyperliquid has handled almost $2.6 trillion in trade volume