Nearly Half of U.S. Retail Crypto Holders Haven’t Earned Yield: MoreMarkets
MoreMarkets’ 2025 Crypto Yield Retail Consumer Report shows retail investors favor centralized exchanges and prioritize safety over high returns.
Nearly half of U.S. retail crypto holders have never earned yield on their assets, according to MoreMarkets’ 2025 Crypto Yield Retail Consumer Report.
The report, which surveyed U.S. retail consumers and analyzed on-chain data, estimates that roughly 20-36 million users earn yield through centralized exchanges (CEXs) like Binance and Coinbase, while only 500,000-700,000 use decentralized finance (DeFi) protocols. That equates to around 97% of yield earners preferring to earn on CEXs rather than decentralized alternatives.
Of those not earning yield at all, 68% cited concerns about liquidity,…
