Chainalysis: Stablecoins to Still Dominate Illegal Transaction Volume Through 2024

Odaily Planet Daily News Blockchain analysis company Chainalysis released a report pointing out that stablecoins dominated the illegal cryptocurrency transaction volume in 2024, accounting for as much as 63%. This trend has gradually emerged since 2022, and stablecoins have surpassed Bitcoin to become the most commonly used cryptocurrency in illegal activities. The report also shows that the total annual growth rate of stablecoin activities is about 77%, showing its wide influence in the entire cryptocurrency ecosystem. According to Chainalysis's forecast, as on-chain criminal activities become increasingly diversified, illegal cryptocurrency transaction volume is expected to reach US$51.3 billion in 2024. According to current indicators, the total funds received by illegal crypto addresses last year were approximately US$40.9 billion, but as more illegal addresses are identified and historical activities are included in the estimate, this figure is expected to climb to US$51.3 billion throughout the year. (TheBlock)