Coinbase International rose to fifth place in perpetual contract trading volume, exceeding Hyperliquid

According to The DeFiReport, in the past 30 days, Coinbase International has surpassed Hyperliquid in perpetual contract trading volume, ranking fifth, and its open position turnover rate is 23 times that of Hyperliquid. However, some users believe that open positions are a more realistic indicator and question that Coinbase's perpetual trading volume is not transparent in terms of Maker incentive mechanism.