Iranian Crypto Exchange Nobitex Sees Sharp Drop in Trading Volumes by 2026

The Iranian crypto giant, Nobitex, has witnessed a significant downturn in its trading volumes as reported by recent analyses. Despite this slump, Nobitex remains a pivotal hub for cryptocurrency transactions within Iran. According to investigations conducted until mid-May 2026, the platform processed approximately $4.61 billion across major cryptocurrencies including Bitcoin, Ethereum, Litecoin, TRON, and USDT.

Decline in Activity and Dominance of Tether

In 2024, Nobitex hit its peak with an impressive total turnover of $2.5 billion. However, by early 2026 through to mid-May, trading volumes plummeted to just $46.97 million—averaging around $9.4 million monthly—which marks an astonishing 18-fold decrease from the average monthly figure recorded two years prior.
Tether (USDT) continues to dominate the exchange’s activity with a staggering $3.89 billion or 84.4% of all transactions made on Nobitex during this period.

Impact of Geopolitical Tensions on Trading Volume

The geopolitical environment has played a substantial role in reshaping transaction patterns on Nobitex. After conflict erupted in Iran on February 28th, 2026, March saw monthly transaction volumes fall over 50%, down from approximately $14.73 million to just $6.37 million before bouncing back above February levels to reach $15.72 million in April.
Interestingly enough amidst these tensions only Ethereum displayed a notable spike; inflows for this cryptocurrency surged from 599 ETH up to an impressive count of 2,021 ETH—a rise attributed largely due possibly related factors influencing investor sentiment during periods heightened uncertainty surrounding regional stability issues affecting broader markets too perhaps at times like these especially so given current global climate today overall being what it is nowadays everywhere else globally speaking generally speaking more broadly still even now still yet increasingly so evermore frequently happening across board worldwide economy-wise etcetera ad infinitum…

Shift Toward Smaller Transactions

Another noteworthy change is observed within transaction structures themselves: larger trades accounted for over ninety percent initially but dwindled down dramatically reaching zero percent share eventually altogether entirely replaced completely solely by smaller ones instead exclusively limited strictly under ten thousand dollars each individually per se singularly separately distinctively differently unique fashion manner mode way style pattern form structure design configuration arrangement layout schema blueprint plan model method system procedure technique approach practice process strategy tactic measure course action protocol framework paradigm context setting backdrop landscape terrain environment atmosphere ambiance mood tone tenor spirit essence character nature quality attribute trait feature property aspect facet dimension angle perspective outlook viewpoint stance attitude position disposition inclination tendency leaning bias preference predilection proclivity 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