Q1 Witnesses 64% Surge in Crypto Market Capitalization, says CoinGecko
CoinGecko analysts have released a report on the cryptocurrency market for the first quarter, highlighting significant growth in market capitalization.
According to the report by CoinGecko, the crypto market experienced growth in the first quarter, with the total market capitalization increasing by 64.5% and reaching a peak of $2.9 trillion in March.
The report also reveals that the increase in capitalization during this period amounted to $1.1 trillion, which is nearly double the increase seen in the fourth quarter of 2024, which was $0.61 trillion. The approval of spot Bitcoin ETFs on January 10 played a significant role in the surge of capital inflows into the sector.
The upward trend in market capitalization began in late January and continued until mid-March, when it reached an intermediate high.
CoinGecko experts highlighted the growth of assets under management (AUM) in U.S. Spot Bitcoin ETFs, which reached $55.1 billion. While Grayscale Bitcoin Trust ETF (GBTC) still holds the largest share, the gap has significantly narrowed with the iShares Bitcoin Trust (IBIT) and Fidelity Wise Origin Bitcoin Fund (FBTC).
Bitcoin itself experienced a growth rate of 68.8% during the past quarter and reached its all-time high, according to the report.
Binance Research had previously reported a 16.3% increase in market capitalization within just one month. Despite a slowdown in the inflow of capital into spot Bitcoin ETFs towards the end of March, the funds continued to exhibit positive dynamics.
Since January, Bitcoin exchange-traded funds have attracted over $12 billion in investments.
In related news, Grayscale’s Bitcoin ETF fund has seen a significant decrease in its assets since its launch.
For more updates on the cryptocurrency market, follow us on Google News.
