Crypto media traffic fell in 2025 as on-chain activity rose

Crypto-focused media traffic declined in 2025 even as blockchain usage expanded, according to a yearlong review by Outset Data Pulse. The analysis found monthly visits to crypto-native outlets fell 33.14% from January to December, while key on-chain indicators rose over the same period.

The study examined global traffic across 349 outlets and compared monthly visits with on-chain metrics covering liquidity, payments, and trading. Media data came from the Outset Media Index, and blockchain metrics were sourced from Artemis Analytics.

Across crypto-native outlets, total traffic reached 1.12 billion visits in 2025. Monthly readership peaked in January at 105.85 million, briefly rebounded to 107.41 million in July, and fell to 70.78 million in December, the year’s low.

Mainstream finance, technology, and general news outlets that cover crypto recorded 6.91 billion visits in 2025. Their monthly traffic rose from 366.71 million in January to 585.73 million in December, with a sharp increase in March to 582.78 million from 341.20 million in February.

On-chain liquidity increased through the year. Global stablecoin supply rose 41.84%, from $216.95 billion in January to $307.76 billion in December. Growth accelerated in the third quarter, with month-over-month gains of 5.20% in July, 7.29% in August, and 5.22% in September, lifting supply from $252.02 billion at the end of June to $299.34 billion by September. Supply flattened in November and edged lower in December.

Payment and settlement activity grew as well. USDT transfer volume slipped early in the year, moving from $1.16 trillion in January to $1.08 trillion in March, then rose to $1.41 trillion in May, up 28.53% month over month. Transfers reached $1.74 trillion in July, dipped in August, and climbed to $2.52 trillion in October, a 40.96% increase from September and 116.60% above January. Total USDT transfers for 2025 were $18.92 trillion.

On-chain trading advanced during the middle of the year. Decentralized exchange spot volume fell from $112.45 billion in January to $98.72 billion in February, then recovered to $126.77 billion in May, up 16.15% month over month. Volume reached $158.49 billion in July and $167.32 billion in September, 48.78% above January. October marked the yearly high at $214.68 billion. Total DEX spot trading for 2025 was $1.76 trillion.

A one-month lag check compared whether shifts in media traffic tended to lead or follow changes in on-chain activity. The review did not find a consistent lead-lag pattern. An indexed view setting January at 100 showed crypto-native media trending lower, mainstream audiences rising, and aggregated on-chain activity climbing into October.

Audience attention remained dispersed across crypto-focused brands. The top 10 outlets drew about 280 million visits in 2025, roughly one quarter of the sector total, while smaller publications accounted for 64.6% of crypto-native traffic.

The analysis aggregated monthly global visits across brands and languages within each category and compared them with stablecoin supply, USDT transfers, and DEX spot volume. The datasets were normalized to a common index to track direction rather than absolute size. The results reflect total site traffic, not just crypto articles at mainstream outlets, exclude broader social network information flows, and use monthly resolution, which may miss short-lived spikes.