CoinGecko Deepens Crypto Winter Warning as Market Cap Plunges 20.4% to $2.4T

CoinGecko's latest analysis declares a deepening crypto winter, with total market capitalization sliding 20.4% ($622 billion) to $2.4 trillion in Q1 2026—45% below its October 2025 peak. This builds on earlier reports of top-10 CEX spot volumes crashing 39% to $2.7 trillion, Bitcoin falling 22%, and March volumes hitting $800 billion, the lowest since November 2023. Investors rotated to stablecoins (market cap up $1.6 billion to $309.9 billion), while Solana's spot share fell despite leading at 30.6%, and Ethereum gained in March amid liquidity woes and macro risks.