April's report from Binance highlights the volatility of the crypto market in March, where the overall volume decreased by 4.4%. Traders maintain interest in Bitcoin despite challenges.
Overall Market Decline
In March, the crypto market decreased by 4.4%. The primary reason for this decline was tariff disputes related to U.S. President Donald Trump's threats. These events significantly impacted market prices across both the crypto and stock markets.
Situation with Memecoins
Increased volatility has led to a sharp decline in the memecoin sector. The memecoin launchpad Pump.fun recorded decreased activity, indicating a potential peak in interest in this type of asset. Trading volume on Pump.fun dropped by 69.9%, while the number of active wallets fell by 45.1%.
Bitcoin's Status as a Safe Haven Asset
Despite broader market declines, Bitcoin continues to be a safe asset for traders. The strategic Bitcoin reserve and the rapidly expanding DeFi ecosystem contribute to growing interest in this asset. Year-over-year, the value locked in Bitcoin DeFi surged by 2767%.
The crypto market faced a decline in March, but Bitcoin retains its attractiveness among traders due to rising interest and its status as a safe asset.
