Hyperliquid Outpaces Coinbase with $2.6T Trading Surge
Hyperliquid beats Coinbase in 2024 with $2.6T in trading volume and 31.7% YTD gains, per Artemis data.
- Hyperliquid hits $2.6 trillion in trading volume, overtaking Coinbase
- Platform sees 31.7% year-to-date performance growth
- Coinbase lags behind with -27% YTD and $1.4 trillion volume
A new player is shaking up the crypto exchange world—Hyperliquid. According to data from Artemis, the decentralized exchange has reported a staggering $2.6 trillion in notional trading volume, easily surpassing Coinbase, which posted $1.4 trillion for the same period.
This surge in volume isn’t just a statistical win. It reflects Hyperliquid’s growing relevance and utility in the crypto community. The platform’s user-friendly design, advanced features for perpetual contracts, and strong DeFi appeal are believed to be key drivers behind its soaring popularity.
Performance That Commands Attention
Beyond just volume, Hyperliquid has also delivered a +31.7% gain year-to-date, while Coinbase has seen a 27% decline over the same stretch. This stark contrast underlines a major market shift: traders and investors are increasingly leaning into decentralized solutions.
This trend comes at a time when regulatory pressures are mounting on centralized exchanges like Coinbase, making alternatives like Hyperliquid more attractive for crypto-native users seeking both speed and flexibility.
What This Means for Crypto Traders
The rise of Hyperliquid sends a clear message: decentralized platforms are gaining traction, not just among DeFi enthusiasts but also mainstream traders. With its explosive trading volume and impressive performance, Hyperliquid is positioning itself as more than just a competitor—it’s becoming a leader.
If this momentum continues, the balance of power in the exchange space could tilt further away from traditional players like Coinbase toward newer, agile platforms with a DeFi-first ethos.
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