A new report from Outset Data Pulse reveals a significant decoupling between crypto media attention and underlying market activity in 2025. While on-chain metrics showed robust growth, traffic to crypto-native media outlets fell by approximately 33% over the year.
The data, drawn from the Outset Media Index's analysis of 349 outlets, shows crypto-native media visits dropped from around 106 million in January to just under 71 million by December. This decline occurred despite a growing cryptocurrency market. The report highlights a fragmented audience, with the top ten crypto-native publications accounting for only about a quarter of total specialist traffic, meaning nearly 75% of the crypto-native audience is spread across smaller outlets.
In stark contrast, mainstream finance, tech, and general news sites that cover crypto attracted close to seven billion visits in 2025—an audience more than six times larger than the crypto-native sector. Traffic to these mainstream platforms grew from roughly 367 million visits in January to nearly 586 million by December.
Concurrently, on-chain indicators demonstrated strong market health. The stablecoin supply increased by about 41%, from $216 billion to $307 billion. USDT transfer volume for the year approached $19 trillion, with a monthly peak of $2.5 trillion in October. Decentralized exchange (DEX) spot volume also rose, reaching $1.7 trillion for the year and climbing from $112 billion in January to $214 billion in October.
The report found no consistent lead-lag relationship between changes in media traffic and subsequent on-chain activity, suggesting crypto-native media traffic is no longer a reliable proxy for market behavior. Outset interprets this divergence as a signal of market maturity, where a durable industry can function effectively even as audience attention fragments.
For PR professionals, the findings necessitate a strategic shift. The report recommends moving beyond a focus on top-tier crypto outlets to prioritize mainstream financial media like Bloomberg, Reuters, and the Financial Times. It also advises updating success metrics to include on-chain lift, mainstream share of voice, social amplification, and LLM visibility, while reallocating budgets toward owned and paid media channels.
