BlockBeats News, April 16th, CoinGecko released the “Q1 2026 Crypto Industry Report,” impacted by the bearish sentiment at the end of 2025 and global geopolitical instability. The total crypto market cap in Q1 fell by 20.4% ($6.22 trillion), ending the quarter at $2.4 trillion, representing a roughly 45% decline from the peak in October 2025. The average daily trading volume decreased by 27.2% to $117.8 billion.
The total stablecoin market cap remained stable at $309.9 billion. USDT’s supply saw its first decline since Q2 2022 (-1.6%), while USDC grew by 2.4% to $77.1 billion.
Due to the impact of the US-Iran war on the supply, crude oil surged by 76.9% to become the best-performing asset in Q1; Bitcoin fell by 22.0%, and the Nasdaq and S&P 500 fell by 7.1% and 4.8%, respectively.
CEX Spot Trading: The spot trading volume of the top ten centralized exchanges fell by 39.1% to $2.7 trillion, with only $0.8 trillion recorded in March, the lowest since November 2023.
DEX On-Chain Trading: Solana maintained its first-place position with a 30.6% quarterly share but was surpassed by Ethereum in March. Monad has entered the top ten.
Hyperliquid benefited from the HIP-3 upgrade to support commodity perpetual contracts. Outstanding contracts for commodity futures accounted for approximately 30% of Hyperliquid’s total open interest. On April 9th, tradeXYZ’s two crude oil perpetual contracts broke through $4 billion in daily trading volume, surpassing Bitcoin’s daily trading volume on Hyperliquid for the first time.
