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The Biggest Winners from April's Early Crypto Market Rebound

Cryptocurrencies across the board are flashing significant growth in the first few days of April.

Updated Sep 14, 2021, 1:52 p.m. Published Apr 4, 2019, 2:00 p.m.
litecoin, bitcoin

Bitcoin and the rest of the cryptocurrency market have started Q2 off with an emphatic bang, having at one point increased the market’s total capitalization by nearly $40 billion since the beginning of April.

Indeed, bitcoin led the market-wide charge on April 2, surging over 20 percent in a single hour - a move that had since extended to a 136 day high of $5,304 yesterday, according to data from CoinDesk’s price data.

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A common byproduct of a rallying bitcoin, however, is diminished returns of the BTC denominated trading pairs of most other cryptocurrencies, as opportunistic investors tend to shift funds into the market leader when it picks up a bid.

Such was proven Tuesday when almost all of the top 50 cryptocurrencies ranked by market cap were posting impressive 24-hour gains in US-dollar value, yet only was found to be reporting BTC denominated gains, Messari data revealed.

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On Wednesday, though, it seemed investors were rotating funds back into the many other cryptocurrencies besides bitcoin, boosting both USD and BTC denominated values significantly.

Highlighted above were the top performing cryptocurrencies so far this month as of yesterday's trading session, according to Messari data.

As can be seen bitcoin, the largest cryptocurrency by market cap, once again is being outperformed by others, granted the prices of smaller cryptocurrencies are easier to move since they have smaller market caps and are more thinly traded.

, a fork of the bitcoin blockchain, is the standout best performer so far this month, at one point flashing 94 percent price growth against the USD, roughly 50 percent of which was recorded on Wednesday alone as its BTC pair surged nearly 40 percent.

has also aggressively extended its impressive Q1 gains into the second quarter of the year. The cryptocurrency's trade price is now up 43 percent month-to-date, albeit the figure was above 54 percent yesterday, after rising 31 percent in USD value and coming just shy of a $100 price tag on most exchanges.

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The price of the “worst” performer in this group on Wednesday was Aion (AION), which aims to act as a bridge connecting different blockchains, still reflected a strong USD denominated increase of 25 percent and a notable 16 percent jump in BTC value.

With the reasons for the recent market surge pointing to technical catalysts, the perhaps unparalleled volatility is creating a day trader’s paradise, although such volatility being back for the long haul is not quite yet a certainty.

Disclosure: The author holds BTC, LTC, ETH, ZEC, ZIL, AST, REQ, OMG, 1st and AMP at the time of writing.

Cryptocurrencies via Shutterstock

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Exchange Review - March 2025

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CoinDesk Data's monthly Exchange Review captures the key developments within the cryptocurrency exchange market. The report includes analyses that relate to exchange volumes, crypto derivatives trading, market segmentation by fees, fiat trading, and more.

What to know:

Trading activity softened in March as market uncertainty grew amid escalating tariff tensions between the U.S. and global trading partners. Centralized exchanges recorded their lowest combined trading volume since October, declining 6.24% to $6.79tn. This marked the third consecutive monthly decline across both market segments, with spot trading volume falling 14.1% to $1.98tn and derivatives trading slipping 2.56% to $4.81tn.

  • Trading Volumes Decline for Third Consecutive Month: Combined spot and derivatives trading volume on centralized exchanges fell by 6.24% to $6.79tn in March 2025, reaching the lowest level since October. Both spot and derivatives markets recorded their third consecutive monthly decline, falling 14.1% and 2.56% to $1.98tn and $4.81tn respectively.
  • Institutional Crypto Trading Volume on CME Falls 23.5%: In March, total derivatives trading volume on the CME exchange fell by 23.5% to $175bn, the lowest monthly volume since October 2024. CME's market share among derivatives exchanges dropped from 4.63% to 3.64%, suggesting declining institutional interest amid current macroeconomic conditions. 
  • Bybit Spot Market Share Slides in March: Spot trading volume on Bybit fell by 52.1% to $81.1bn in March, coinciding with decreased trading activity following the hack of the exchange's cold wallets in February. Bybit's spot market share dropped from 7.35% to 4.10%, its lowest since July 2023.

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