Chainalysis says crypto economic activity fell just 1.6% as market cap halved

Global crypto economic activity totaled $9.4 trillion over the past year as of the first half of this year, down 1.6% from a year earlier, according to Chainalysis. Over the same period, the cryptocurrency market capitalization plunged by $2.1 trillion, or 50%. Funds flowing into exchanges and DeFi fell 4.3%, while peer-to-peer transactions jumped 302.9% to $228.7 billion and cross-border stablecoin transactions rose 77.5% to $220.3 billion.