Indonesian Crypto Transactions Decline, But Consumer Numbers Rise: Economic Pressures Shift Investor Behavior

The latest data from Indonesia's Financial Services Authority (OJK) revealed that the value of crypto asset transactions in July 2026 reached IDR 20.52 trillion, marking a decrease of approximately 28.2 percent compared to June 2026, which recorded IDR 28.58 trillion. Despite the slowdown in transaction value, the number of consumer accounts for trading digital financial assets saw an increase, rising from 22.69 million in June to 22.93 million accounts in July 2026. Yudhono Rawis, CEO and Founder of FLOQ, commented that this trend indicates public interest in the crypto market remains strong, although investors' capacity and transaction patterns are changing amidst economic pressures. "The consumer base is still growing even though the transaction value has decreased. This shows that people have not completely abandoned crypto, but have started to transact with smaller and more careful nominal," Yudho stated. According to him, the divergence between the number of consumers and transaction value suggests that the current decline in market activity does not signify a structural loss of interest in crypto assets. Yudho attributes the shift in investor behavior to the prevailing economic conditions. The number of aspiring middle-class individuals is projected to increase from 137.5 million in 2024 to 142 million in 2025, while the vulnerable population is also expected to rise from 67.7 million to 67.9 million. This growth in the prospective middle class illustrates pressure on purchasing power and household financial resilience. In such circumstances, the allocation of funds towards high-volatility investment instruments like crypto assets tends to be more limited. "When household financial conditions are depressed, it is natural for people to become more conservative. What changes is not always their interest in investing, but the amount of funds they dare to allocate and how they choose instruments," he explained. Yudho concluded that despite the transaction slowdown, the growth in consumer numbers demonstrates that Indonesia possesses a substantial market base, and its crypto ecosystem continues to develop.