"Trading Volume Plummets 40%"...Virtual Asset Market Shows Signs of 'Crypto Winter' Return

▲ Bitcoin (BTC)/AI generated image

With trading volume plummeting by 39.1% in just one quarter, signs have been detected that the virtual asset market is re-entering a 'crypto winter' phase.

According to Cointelegraph, a cryptocurrency specialized media outlet, on April 17 (local time), CoinGecko's Q1 2026 report revealed that spot trading volume on top centralized exchanges (CEX) decreased by 39.1% quarter-over-quarter to $2.7 trillion.

In particular, the decline in trading volume continued throughout the quarter. While it remained above $1 trillion in January, it continuously decreased thereafter, falling to $800 billion in March, marking the lowest point since November 2023.

The downturn was also widespread across exchanges. All top 10 centralized exchanges experienced a decrease in trading volume, with declines ranging from 23% to 55%. A decrease in market share was also observed for some exchanges.

A general contraction trend in the market was also evident. The total virtual asset market capitalization for Q1 2026 was recorded at $2.4 trillion, a 20.4% decrease, which is approximately 45% lower than its peak in October 2025.

CoinGecko assessed this trend not as a short-term correction but as an ongoing 'crypto winter' phase, highlighting the simultaneous decrease in trading volume and contraction in liquidity as key characteristics.

*Disclaimer: This article is for investment reference only and does not take responsibility for investment losses based on it. The content should be interpreted for informational purposes only.*