El Salvador has experienced a significant drop in cryptocurrency remittances during the first quarter of 2025, according to data released by the Central Bank. The volume decreased by 44.5% compared to the same period last year, with only $16 million in cryptocurrency transactions recorded, down sharply from the previous year’s $28.83 million. Cryptocurrency remittances accounted for less than 1% of overall remittances received during this period. Total remittance inflows reached over $3 billion between January and April, with cryptocurrency representing just 0.52%. Analysts and local media speculate that the recent withdrawal of Bitcoin as legal tender and its isolation from public services may have contributed to this decline. Furthermore, the dissolution of Chivo Wallet, a government-backed wallet used for remittances, could also be playing a role in these figures. #BTC