Cryptocurrency market transaction data for the first quarter of 2026 has been released. According to information shared by the onchain platform CoinGlass, the total cryptocurrency transaction volume reached $20.57 trillion. Derivative transactions accounted for the majority of this volume, while the share of spot markets remained more limited.
According to the data, $18.63 trillion of the total volume came from derivative transactions, while spot transaction volume was recorded at $1.94 trillion. This indicates that investors are increasingly turning to high leverage and short-term strategies.
In terms of market leadership, Binance stood out by a wide margin. The platform achieved a 34.9% market share in derivatives trading, while its total asset size reached $152.9 billion. Following Binance, exchanges such as OKX, Bybit, Gate.io, and Bitget were positioned in the second tier.
On the other hand, it is noteworthy that Hyperliquid, a decentralized derivatives platform, also entered the top 10 exchanges. This development is interpreted as an indicator of increasing competition in the decentralized finance (DeFi) sector.
Looking at the overall picture, there appears to be a slight decrease in trading volume. Analysts note that market activity is increasingly concentrated in derivatives and large platforms. This trend suggests that while investor risk appetite remains, a more selective approach is being adopted.
*This is not investment advice.
