Crypto Wallet Revenues Decline 60% in H1 2026; Gaming Sector Shows Resilience
Published
Crypto wallet and interface revenues experienced a 60% year-over-year decline in the first half of 2026, falling to approximately $400 million.
MissedBlock Desk · 3 min read
Crypto wallet and interface revenues experienced a 60% year-over-year decline in the first half of 2026, falling to approximately $400 million. This represents a decrease of about $700 million from the $1.1 billion recorded in H1 2025, according to a report by 1kx. The downturn is primarily attributed to lower trading activity and volatile cryptocurrency prices, with uncertainties remaining regarding the precise factors driving these conditions.
The wider consumer sector also saw a revenue decrease of 11%, bringing in $5.0 billion in H1 2026, a drop of $600 million from the previous year. However, this decline was partially offset by an 8% increase in revenues from the gambling and gaming sectors, which rose to $3.3 billion in H1 2026 from approximately $3.1 billion in H1 2025. This gaming and gambling segment now accounts for the largest portion of the sector’s reported income.
DePIN, or decentralized physical infrastructure networks, also faced revenue challenges, with a 10% decrease from $293 million in H1 2025 to $264 million in H1 2026.
On a blockchain-specific level, wallet metrics present a mixed picture. Data from Santiment indicates that the Bitcoin network lost around 30,000 non-empty wallets since mid-October, bringing the total to just under 60 million. The analytics firm suggested this could be a sign of capitulation by smaller holders, a metric that does not suggest price direction. In contrast, the Ethereum network saw its number of non-empty wallets exceed 207 million in September. During the same period, the amount of staked ETH surpassed 40 million, with Santiment interpreting these figures as indicative of heightened network participation, even amidst relatively weak price action.
Wallet services typically generate revenue through transaction fees, swap fees, and integrated DeFi services. While an increase in the number of addresses does not automatically provide higher fees, the H1 figures suggest that wallet revenue was impacted by trading conditions. Crypto gaming income, however, appears to be less exposed to these slowdowns.
Uncertainties remain regarding the precise factors driving the decline in trading activity and the ongoing volatility of crypto prices. The long-term implications of potential capitulation by smaller Bitcoin holders are also yet to be fully understood. Similarly, the exact relationship between the number of Ethereum wallets and overall network participation requires further observation.
Why This Matters
The materials describe a narrow update: Crypto wallet and interface revenues dropped by 60% year over year to approximately $400 million in the first half of 2026, a decrease of about $700 million from the previous year. The exact reasons for the decline in trading activity.
Broader Context
Source materials place the factual news in this context: Crypto wallet and interface revenues fell 60% year over year to roughly $400 million in the first half of 2026.