Despite the current bear market in the crypto, the data is phenomenal. Its trading volume is second only to the US and European stock markets globally, making it the third largest in the world. Of course, 24/7 operation and high leverage play a significant role in this success. 1/ US stocks ≈ 70 trillion US dollars 2/ European stock markets ≈ $25 trillion 3/ Crypto Market ≈ $20 Trillion 4/ China A-shares ≈ 15 trillion USD 5/ Japanese stock market ≈ 10 trillion US dollars In Q1 2026, the total cryptocurrency trading volume was $20.57 trillion, with spot trading at $1.94 trillion and derivatives at $18.63 trillion, a ratio of 9.6 times. The market is no longer driven by investment logic but by trading logic, and it's characterized by high-leverage trading. January high February decline The market didn't reach even lower levels in March, but trading volume didn't stop. Binance's data shows spot market value at $639.9 billion, accounting for 34.3%. Derivatives accounted for $4.90 trillion, or 34.9% of the total. The combined holdings of the second and third largest holders were also $23.9 billion, representing 29.9%. Peak depth 32.1 billion BTC, ETH First in both spot and futures markets Binance's assets totaled $152.9 billion, representing 73.5% of the total. 34% of transactions 73% of assets Users aren't just trading large amounts of assets that are left untouched; the crypto market is becoming increasingly transactional, and trading volumes remain astonishing even during bear markets.