Just checked the latest CoinGecko data from Q1 2026, and honestly the market got hit pretty hard. Total crypto market cap dropped 20.4% to around $2.4 trillion by end of March, which is roughly 45% down from October's peak. Bitcoin fell 22% during the quarter, basically moving in line with traditional equities. What's interesting though is that stablecoin supply actually shrank for the first time since mid-2022, with USDT down significantly.



CEX spot trading volume took a major hit too, falling 39% to $2.7 trillion, with March being the weakest month at just $800 billion. Solana kept its dominance on DEX volume though, looking at around 30% market share. One thing I noticed from the CoinGecko report is that commodity traders have become a huge part of Hyperliquid's activity now, making up roughly 30% of open interest. Oil was the real winner in Q1, up 76.9%, while crypto was clearly in a winter phase.
BTC-0.24%
SOL0.79%
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