Crypto wallet revenues drop 60% in H1 2026, 1kx report finds

Wallet and interface revenues fell to around $0.4 billion as softer prices and thinner trading squeezed fee income across the consumer layer Crypto wallets had a rough first half of 2026. Revenues from wallets and frontend interfaces fell 60% year over year, landing at around $0.4 billion, according to the 1kx Blockchain Revenue Report 2026. The numbers behind the slump The 1kx report was released in late October 2026 and covers data through Q3 2026. It tracks revenue across the blockchain sector by category, from base-layer networks to the apps that sit on top of them. Wallets and interfaces sit inside a broader consumer and front-end bucket. That whole category shrank 11%, sliding from $5.6 billion in H1 2025 to $5.0 billion in H1 2026. The mechanics are fairly simple. Wallets earn much of their money from fees, including charges on in-app swaps and interface fees layered on top of transactions. Fewer trades, at lower prices, means fewer and smaller fees. The report notes a wrinkle worth flagging. On-chain transaction volumes actually rose in certain areas, even as fee-based revenue fell. Activity did not vanish everywhere; it just got a lot less lucrative for the businesses sitt...