Gate News message, April 23 — According to TRM Labs’ Q1 2026 research report, global cryptocurrency retail adoption showed signs of contraction, with total global retail volume reaching $979 billion, down 11% from the same period in 2025. The crypto market has now experienced two consecutive quarters of decline.
The top five countries by crypto activity remained largely unchanged: the United States led with $212 billion, followed by South Korea ($69 billion), Russia ($48 billion), India ($46 billion), and Turkey ($40 billion), which entered the top five with 7% year-on-year growth. India proved the most resilient, declining only 6%, while developed markets saw steeper contractions—South Korea lost 28% of its volumes and Germany fell 25%, the largest year-on-year drops. The report noted a stark divergence: developed markets experienced slower adoption as interest shifted toward established capital markets and precious metals, while emerging markets continued leveraging crypto as a critical payment system.
Stablecoin adoption emerged as a key growth driver in Q1. Venezuela climbed to 17th globally with $19.7 billion in activity, primarily focused on stablecoin usage for value storage and cross-border transactions. Euro-denominated stablecoins saw particularly strong growth, surging 12 times from January 2025 to March 2026 and reaching $777 million monthly, reflecting efforts to diversify dollar-dominated crypto liquidity.
TRM Labs attributed the divergence to geopolitical factors and local monetary conditions. In developing regions with restrictive or inadequate domestic monetary policy, stablecoins provided a secondary layer for storing value and conducting dollar-based payments. Notably, Iran experienced a notable slowdown due to escalating sanctions and ongoing conflict, compounded by the loss of local exchange access. The report concluded that crypto markets in Q1 became more responsive to broader geopolitical risks, trading no longer as an isolated asset but as part of the global risk environment.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Iran's Tehran Air Defense System Activated, Reason Unclear
Gate News message, April 23 — According to Iran's Nour News, air defense systems in parts of Tehran were activated on April 24, though the reason remains unclear.
Major news agency Mehr News reported that sounds of the air defense system engaging targets were heard in several areas of the
GateNews30m ago
U.S. Sanctions Cambodian Senator Over Crypto Scam Network
The U.S. Treasury's Office of Foreign Assets Control (OFAC) has sanctioned Cambodian senator Kok An and 28 associated individuals and entities for operating cryptocurrency scam networks targeting Americans, according to an OFAC statement issued Thursday. The sanction follows police raids on two scam
CryptoFrontier1h ago
Iran's Central Bank Confirms First Strait of Hormuz Transit Fees Received in Cash Foreign Exchange
Gate News message, April 24 — Iran's Central Bank has confirmed that the first batch of transit fees collected from vessels passing through the Strait of Hormuz has been received in cash foreign exchange form, according to Haji Babaei, Vice Speaker of the Iranian Islamic Parliament. The funds have b
GateNews3h ago
Bitcoin Falls to $78,326 After Trump Issues Military Warning Over Iran Strait
Gate News message, April 24 — Bitcoin retreated to approximately $78,326 on Thursday after U.S. President Donald Trump issued a military warning to Iran, stating he had ordered the U.S. Navy to "shoot and kill" any Iranian vessels placing mines in the Strait of Hormuz. The pullback followed a rally
GateNews3h ago
Tether Freezes $344M in USDT on Tron Blockchain in Coordination with OFAC
Gate News message, April 23 — Tether froze two large whale wallets on the Tron blockchain holding a combined $344 million in USDT on Wednesday in coordination with the U.S. Treasury's Office of Foreign Assets Control (OFAC) and U.S. law enforcement. The two addresses held approximately $131.3 millio
GateNews4h ago
Iran's Parliament Vice Speaker: Negotiations Prohibited Before U.S. Admits Failure
Gate News message, April 23 — Iran's Islamic Parliament Vice Speaker Haji Baba'ei stated on April 23 that any negotiations are prohibited before the United States acknowledges its failure.
GateNews8h ago
