In the first quarter of this year, the virtual asset market cap fell by 18.6%... Bitcoin's market share increased
Summary
- The CoinGecko report revealed that the total market capitalization of virtual assets in the first quarter of this year fell by 18.6% compared to the previous quarter.
- The spot trading volume of centralized exchanges decreased by 16.3%, with the Bybit hacking incident and the LIBRA crash cited as causes, according to the report.
- Bitcoin's market share rose to 59.1%, marking the highest level since 2021.
The virtual asset (cryptocurrency) market contracted sharply in the first quarter of this year.
According to a CoinGecko report on the 16th (local time), the total market capitalization of virtual assets in the first quarter of this year recorded $2.8 trillion, down 18.6% ($633.5 billion) compared to the previous quarter.
Daily trading volume also decreased by 27.3% compared to the end of 2024, recording $146 billion, and the spot trading volume of centralized exchanges decreased by 16.3%, recording $5.4 trillion. The report pointed to the Bybit hacking incident as one of the reasons for this sharp decline in trading volume. Additionally, the LIBRA crash was also analyzed as contributing to the contraction of market sentiment.
Meanwhile, during the first quarter, Bitcoin (BTC)'s market share rose to 59.1%, marking the highest level since 2021.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.!["Will AI take our jobs?" Fear spreads…market rattled by a plunge in shares [New York Market Briefing]](https://media.bloomingbit.io/PROD/news/874408f1-9479-48bb-a255-59db87b321bd.webp?w=250)
