I just looked at the cryptocurrency market report for the first quarter of 2026, and the numbers tell you a lot about what actually happened. According to data published by analytical platforms, the market capitalization sharply collapsed—about 20% in just three months, leading to a drop from the peak we saw in October of last year by nearly 45%. I believe geopolitical pressure and the downward trend at the end of 2025 played a major role in this.

What’s interesting is what happened in the futures markets. Hyperliquid, after its recent upgrade, started attracting a decent volume in commodity contracts—especially oil. On April 9th, the daily trading volume for oil contracts exceeded $4 billion, marking the first time it surpassed Bitcoin contract volume on the same platform. Oil itself increased by 76% this quarter due to global conditions.

On the DEX side, Solana remained the strongest with a 30% share, but Ethereum started catching up in March. The total volume on centralized platforms dropped significantly—about 39%—and March was the weakest month since November 2023. This reflects a real decline in activity. Overall, analytical reports indicate a strong correction period, but it could be an opportunity for those watching the market carefully.