Losses were particularly dominant among mega-cap altcoins such as Solana (SOL), Avalanche (AVAX), and Ripple (XRP), which have seen double-digit downsides. These corrections are not uncommon in digital asset markets, especially in the periods leading up to halving events.
Meanwhile, Memecoins have faced the biggest headwinds, recording the steepest decline with month-to-date returns falling to -24.02%, following their excellent performance in the first quarter.
In contrast to the current month's setbacks, March showed a notable rebound in trading volumes on centralized exchanges, rising 92.9% to a record $9.12 trillion.
This period of increased activity correlated with Bitcoin's record-breaking performance in March, as well as the ongoing preparation for the halving event.
Cryptocurrency Trading Volume Hit New All-Time High of $9.1 Trillion in March
Combined trading volume on centralized cryptocurrency exchanges nearly doubled to a record $9.1 trillion in March, with spot trading outpacing growth in derivatives trading.
