Crypto Wallets Lose $700M in Revenue During H1 2026: Report
Crypto wallet and interface revenues fell 60% year over year to roughly $400 million in the first half of 2026, according to a new report by 1kx.
The decline represents a significant drop from the approximately $1.1 billion in wallet revenues recorded during the first half of 2025. The roughly $700 million decrease is mainly attributed to lower trading activity and volatile crypto prices throughout the period.
Gaming Sector Shows Resilience
Despite the overall weakness in the consumer crypto sector, gaming revenue demonstrated remarkable resilience. According to the 1kx report, gambling and gaming revenues increased by 8% to reach $3.3 billion, up from $3.1 billion in the same period last year.
Overall resilience from gaming offsets wallet weakness, but highlights heavy reliance on volatile categories
DePIN and Network Metrics
Decentralized physical infrastructure networks (DePIN) also experienced revenue declines, dropping 10% from $293 million to $264 million. Meanwhile, blockchain metrics showed divergent trends between Bitcoin and Ethereum networks.
Bitcoin's network lost approximately 30,000 non-empty wallets since mid-October, bringing the total to just under 60 million, which Santiment viewed as possible capitulation by smaller holders. In contrast, Ethereum's non-empty wallet count exceeded 207 million in September, with over 40 million ETH staked, indicating strong network participation.
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