Here's an interesting observation: according to CoinGecko analytics, the cryptocurrency market experienced a serious test in the first quarter of this year. The total capitalization fell by 20.4% and stopped at $2.4 trillion — nearly half of last October's highs. It seems we have transitioned from a sharp correction mode to a more prolonged bearish period.

What's interesting: stablecoins remained relatively stable, but volumes on centralized platforms dropped dramatically — by 39% to $2.7 trillion. March actually saw a record low monthly turnover of $800 billion. Bitcoin dragged down along with traditional stocks, decreasing by 22%, although commodity assets unexpectedly grew by 77%.

According to CoinGecko observations, Solana still dominates decentralized exchanges with a market share of about 31%. It is also interesting that on Hyperliquid, commercial traders actively trade around-the-clock oil and now hold approximately 30% of open positions. CoinGecko analytics show that the market is clearly going through a challenging period of revaluation.