Global crypto adoption slumps amid macro pressures, Turkey defies downtrend

TRM Labs’ Q1 Global Crypto Adoption Index shows retail crypto volumes fell 11% year‑over‑year to $979 billion, the steepest quarterly pullback since 2022. The report attributes the decline to a stronger U.S. dollar, higher interest rates and a broader risk‑off backdrop, coinciding with a 22% drop in Bitcoin’s price after a late‑2025 peak above $126,000. Adoption trends diverged regionally: advanced economies (U.S., South Korea, U.K., Germany) saw the largest declines, while countries using crypto for payments and savings — notably Turkey, which logged a 7% YoY rise — and parts of Latin America and South Asia showed resilience. The data underscore macro sensitivity in retail crypto demand and highlight a structural split between speculative and utility‑driven markets, with implications for trading volumes, liquidity and regional flow dynamics.