CoinGecko: Crypto market cap fell 20.4% to $2.4T in Q1 2026

The total cryptocurrency market capitalization fell by 20.4% in the first quarter of 2026, ending the period at $2.4 trillion, according to a CoinGecko report. During the same period, Bitcoin declined by 22.0% in line with weakness in the stock market, while crude oil prices surged by 76.9%. The market cap of stablecoins remained nearly unchanged at $309.9 billion, though the supply of USDT decreased for the first time since the second quarter of 2022. Spot trading volume on centralized exchanges (CEX) dropped by 39.1% to $2.7 trillion, hitting a monthly low of $800 billion in March. Among CEXs, only Binance and MEXC maintained double-digit market shares, at 37.0% and 10.0%, respectively. South Korean exchange Upbit's market share this year has been between 5% and 6%. On decentralized exchanges (DEX), Solana continued to lead with a 30.6% share of spot trading volume. In the derivatives market, commodity perpetual futures accounted for approximately 30% of open interest on Hyperliquid, driven by a surge in demand for 24-hour crude oil trading amid the war in the Middle East.