Nigeria, April 17 -- The global cryptocurrency market faced a sharp downturn in the first quarter of 2025, losing a staggering $633.5 billion in market capitalization.

According to CoinGecko's Q1 2025 report, this represents an 18.6% decline from the previous quarter, reflecting the growing caution among investors in response to recession fears and global economic instability.

Daily trading activity followed suit, plunging by 27.3% quarter-on-quarter to an average of $146 billion. For context, trading volume in the fourth quarter of 2024 had stood at $200.7 billion. Centralized exchanges were not spared either, with their volume sliding by 16% as traders pulled back amidst broader market anxiety.

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