Global Crypto Economic Activity Slumps 1.6% as Market Value Dives

Global crypto economic activity declined by 1.6% to approximately $9.4 trillion over the past 12 months, ending June 30. The total value of cryptocurrencies in circulation also dropped significantly, losing around $2.1 trillion.

This decrease in measured economic activity was less pronounced compared to the contraction in market value. The amount of funds entering exchanges and other crypto services fell by 4.3% to about $8.9 trillion.

However, domestic peer-to-peer transfers showed a substantial increase, rising 302.9% to $228.7 billion from $56.8 billion in the previous period. Cross-border stablecoin flows also rose 77.5%, reaching $220.3 billion from $124.2 billion.

The report excludes transfers unless both the sending and receiving countries can be identified with confidence. The average cross-border payment was approximately $3,000, suggesting use cases such as supplier payments, remittances, and personal savings transfers.