Crypto-based peptide black market exceeds $100M annually, says Chainalysis

Blockchain analytics firm Chainalysis reports that the black market for peptides, fueled by cryptocurrency payments, now exceeds $100 million in annual volume. According to the firm, the value of crypto flowing into this market surged by 159%, rising from $12 million in the fourth quarter of last year to $32 million in the first quarter of this year. This growth is driven by sellers using Bitcoin and stablecoins to circumvent restrictions from traditional banks and payment companies amid the rising "Looksmaxxing" trend, a social media phenomenon focused on improving one's appearance. Chainalysis notes that stablecoins, with their lower price volatility, are becoming an increasingly popular payment method.