According to the TokenInsight report, total trading volume on crypto exchanges dropped to $17.9 trillion in Q1 2026, a 32% decrease quarter-over-quarter and a 42% decline from the peak in Q3 2025. Derivatives trading volume reached $14.6 trillion, accounting for 82% of the total. In terms of market share, Binance (32.77%), OKX (13.27%), and Bybit (9.55%) ranked as the top three, with the top five exchanges collectively holding 72.17% of the market. Influenced by Fed policies, geopolitical factors, and the $19 billion liquidation event in October 2025, the market continues to deleverage, with open interest hitting a four-quarter low as funds shift toward defensive assets like stablecoins. https://(wublock123.com)/news/tokeninsight-report-q1-2026-crypto-exchange-volume-179-trillion-59823