Crypto Market Enters Second Consecutive Quarter of Decline

The cryptocurrency market has been experiencing a prolonged period of decline, and recent data suggests that it may have entered its second consecutive quarter of decline. According to CoinGecko's Q1 2026 Crypto Industry Report, the total market capitalization dropped by 20.4% to $2.4 trillion.

This decline in market capitalization was accompanied by a decrease in trading volume, with daily averages reaching a low not seen since November 2023. The report notes that this contraction accelerated between mid-January and early February, leaving the market around 45% below its October peak of $4.27 trillion.

The decline in trading volume was widespread across all top 10 centralized exchanges (CEXes), with only Binance maintaining a significant market share of 37%. MEXC was the only other exchange with a double-digit market share, at 10%.