Editor's PiCK
Q1 Crypto Market Cap '630 Billion USD' Evaporated… CEX Trading Volume Plummets by 16%
Summary
- The cryptocurrency market capitalization fell by more than 630 billion dollars in the first quarter.
- The trading volume of centralized exchanges (CEX) decreased by 16% during the same quarter.
- Bitcoin dominance rose to 59.1%, reaching a four-year high.
In the first quarter of this year alone, the cryptocurrency market capitalization fell by more than 630 billion dollars.
According to the 'Q1 2025 Cryptocurrency Industry Report' released by the cryptocurrency data analysis platform CoinGecko on the 16th (local time), the market cap for the first quarter was estimated at approximately 2.8 trillion dollars. This is a decrease of 633.5 billion dollars (18.6%) compared to the previous quarter.
As the market cap showed a downward trend, trading volume within exchanges also plummeted. In the first quarter, the spot trading volume of the world's leading centralized exchange (CEX) was about 5.4 trillion dollars, a decrease of 16.3% compared to the previous quarter. Notably, the trading volume of the cryptocurrency exchange Bybit, which suffered a large-scale hacking incident in February, showed a significant decline. Bybit's trading volume for the first quarter was 84.7 billion dollars, down 52.4% from the previous quarter.
In the first quarter, Bitcoin (BTC) dominance was recorded at 59.1%. This is an increase of 4.6 percentage points compared to the previous quarter, marking the highest level in four years since the first quarter of 2021. Ethereum (ETH) dominance was 7.9% in the first quarter, down 3.9 percentage points from the previous quarter. CoinGecko stated, "(Ethereum dominance in the first quarter) is the lowest since the end of 2019."
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul![[Exclusive] South Korea’s FSS to look into ZKsync coin after a 1,000% surge in just three hours](https://media.bloomingbit.io/PROD/news/073d8ae6-ffa0-4b8b-85dd-3f131d9eb908.webp?w=250)
