Revenue from crypto wallets and interfaces fell 60% year over year to roughly $400 million in the first half of 2026. The decline of about $700 million was driven mainly by lower trading activity and volatile crypto prices. Revenue from decentralized physical infrastructure networks, or DePIN, also fell 10%, from $293 million to $264 million. Across the broader consumer sector, revenue declined 11% to $5.0 billion, but an 8% increase in gambling and gaming revenue cushioned the decline. Network adoption data nevertheless told different stories: Bitcoin lost around 30,000 non-empty wallets since mid-October, while Ethereum exceeded 207 million non-empty wallets in September, with more than 40 million ETH staked.
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