Global Crypto Adoption Slumps Amid Stronger Dollar and Higher Interest Rates

Global crypto adoption cooled in the first quarter of 2026 due to a stronger dollar, higher interest rates, and a risk-off environment.

The TRM Labs' Q1 Global Crypto Adoption Index recorded an 11% year-over-year drop in retail volumes to $979 billion, marking the second consecutive quarterly contraction. This decline was particularly pronounced in advanced economies, where traders faced elevated opportunity costs and a tighter risk-on environment.

However, some regions bucked this trend. Turkey saw a 7% year-over-year increase in volumes, while Latin America and South Asia demonstrated relatively stable performance.