Global Crypto Adoption Slumps Under Macroeconomic Pressure as Turkey Defies Downturn

Retail cryptocurrency trading is often shaped by interest rates, the U.S. dollar and market risk appetite. TRM Labs said a stronger dollar and high interest rates had curbed capital inflows, while falling Bitcoin prices further weakened global adoption momentum. The divergence between emerging markets and developed economies has consequently drawn attention.

TRM Labs said global retail cryptocurrency transaction volume fell to $979 billion in the first quarter of 2026, down 11% from the previous period. Despite weak trading across the broader market, Turkey and some other emerging markets bucked the trend and continued to grow, showing greater resilience and a markedly different trajectory from developed economies where adoption declined.