2026-01-22 12:16:40

Recent data released by Indonesia's financial regulatory authorities reveal an interesting market phenomenon.

Last year, the trading volume of crypto assets experienced a significant pullback. In 2025, Indonesia's crypto asset trading scale was approximately 482.23 trillion IDR (about 31-32 billion RMB), down from over 650 trillion IDR in 2024 (about 41-42 billion USD). The trading enthusiasm is indeed cooling down.

But this is only the surface; what truly deserves attention is the other side—the number of investors and tax contributions are actually increasing. What does this contrast indicate? The market is diverging. Some holders are maintaining their positions, new investors are entering, and overall participation and compliance levels in the ecosystem are also rising.

From another perspective, the decline in trading volume may mean the market is becoming more rational, with less speculative trading and a higher proportion of long-term holders. Meanwhile, the growth in the number of investors indicates that Indonesia's market acceptance of crypto assets is steadily increasing, which is actually a positive signal for the long-term development of the ecosystem. The increase in tax contributions directly reflects the progress of regulatory compliance—more and more trading activities are being brought into the official view.

Behind this set of data, you can see a trajectory of an emerging market shifting from speculation-driven to long-term investment and institutional regulation.

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

13 Likes

Reward
13
5
Repost
Share

Comment

0/400

MEVHunterWang

· 6h ago

Trading volume drops by 25%, but investor and tax revenue actually increase? Now that's the real signal—the rhythm of retail exit and institutional entry.

View OriginalReply0

CryptoHistoryClass

· 6h ago

ah yes, the classic "volume down but users up" narrative... *checks 2017 charts* we've seen this movie before. funny how every cycle someone discovers "this time it's different" lmao

Reply0

AirdropSweaterFan

· 6h ago

Trading volume has dropped by more than 30%. How can they still call it a positive... No, on second thought, if the number of investors increases and taxes also go up, that’s actually quite interesting. Either retail investors have learned to be smarter, or the market is truly consolidating. --- Trading in Indonesia has cooled down, but the number of people and taxes are increasing? It sounds like speculators are leaving, and serious players are staying—this might be a healthy sign. --- Wait, the number of investors is increasing but trading volume is decreasing? That indicates each person is trading less frequently... It seems everyone has started to hodl, which is definitely a signal for long-term holders. --- Cooling trading enthusiasm plus increasing investors, and regulatory compliance is also advancing... It feels like the crypto ecosystem in Southeast Asia is undergoing some kind of transformation, from a gambling playground to a real market? --- Indonesia’s market is gradually shifting from being driven by speculation to long-term growth. Although trading volume has dropped significantly, this kind of rooted growth might be more valuable. --- Interesting, to put it simply, retail investors are reducing their trading frequency, new people are entering, and the entire market is becoming more "normal"... This feels a bit like the maturation process of traditional markets.

View OriginalReply0

On-ChainDiver

· 6h ago

Trading volume has dropped nearly 30%, but investors are still increasing? This contrast is quite striking... It shows that the retail investors have finally learned their lesson, no longer engaging in frequent speculation, and are starting to hold long-term positions. Indonesia's recent moves are pushing for compliance quite aggressively, it seems Southeast Asian markets are indeed entering a mature phase. Wow, the rise in taxes means more people are being brought into regulatory oversight... This is both an opportunity and a challenge for our industry. A cooling down in trading activity isn't necessarily a bad thing; fewer people are cutting losses, which can actually attract more institutional-level players to enter the market. In the long run, this logic holds. Basically, the market is moving towards de-bubbling; retail investors are being replaced by genuine investors. Indonesia is actually upgrading its ecosystem. Investors are surging but trading volume is declining? That’s quite strange... Either beginners are all waiting on the sidelines, or seasoned traders are quietly accumulating. Interesting, Indonesia’s data serves as an alternative validation of the survival-of-the-fittest rule in the crypto market: retail investors exit, institutional participation increases—an inevitable trend.

View OriginalReply0

SillyWhale

· 6h ago

Trading volume decreased by 25%, but the number of users and taxes actually increased? Indonesia is doing a shakeout, the retail investors are gone, and institutions are coming in. --- It's really interesting, all the swing traders have run away, and instead, genuine long-term players are coming in with real money. This might be a sign of a mature market. --- Wait, the number of investors increased but trading volume actually declined? This indicates that the new entrants are mostly small retail investors, the bottom-fishers are here. --- I'm tired of hearing about regulatory compliance. The key question is whether Indonesia will follow suit and ban cryptocurrencies, which could lead to another wave of cuts. --- The number of users increased but trading volume decreased, indicating that big players are holding onto their coins, while retail investors are trapped, haha. --- The increased acceptance in the Indonesian market sounds good, but I'm more concerned about when a true killer app will emerge. Just having compliance isn't enough if there are no active users. --- Is the cooling of trading enthusiasm a good thing or a bad thing? It's hard to say. It depends on whether another wave of FOMO-driven hype will come later. --- Taxes have increased, right? So, does that mean the government will eventually impose heavy taxes on cryptocurrencies? Reversing this logic might not be very wise.

View OriginalReply0