Hyperliquid's $2.6T Notional Volume Exceeds Coinbase's $1.4T in Same Period

Hyperliquid posted $2.6 trillion in notional trading volume over the same reporting period, exceeding Coinbase's $1.4 trillion, Artemis data show on Feb. 9, 2026. Year-to-date pricing shows Hyperliquid up 31.7% and Coinbase down 27%, a gap approaching sixty percentage points. Artemis noted that Hyperliquid's rising price coincided with expanding transaction volumes across its perpetual markets, while peer exchanges such as Uniswap, Raydium, and Aerodrome showed consistent usage but did not approach Hyperliquid's recent scale.