Which platform has higher trading volume, Hyperliquid or major centralized exchanges?

Major centralized exchanges like Binance, Coinbase, and Kraken typically have significantly higher trading volumes than Hyperliquid. Binance alone processes over $20 billion in daily volume across all trading pairs, while Hyperliquid, a decentralized perpetual futures exchange, has substantially lower volume. However, Hyperliquid has grown rapidly in the derivatives market, particularly for futures trading. Trading volume varies daily and depends on market conditions, but established centralized exchanges maintain dominant market share due to their liquidity, longer operating history, and broader asset offerings. For beginners, centralized exchanges generally offer better liquidity and easier onboarding, while Hyperliquid appeals to users seeking decentralized derivatives trading with self-custody options.