The crypto economy for the 12 months ending June 30, 2026, shrank from $9.5 trillion to $9.4 trillion, according to Chainalysis data. Thus, the total volume of activity decreased by approximately 1.6%, although the market capitalization of crypto assets lost about $2.1 trillion, or 50%, over the same period. The difference between these indicators is related to changes in the structure of digital asset usage. Fund flows to exchanges, DeFi protocols, and other crypto services decreased by 4.3% to $8.9 trillion, yet certain types of transfers, on the contrary, showed a sharp increase. In particular, internal P2P transactions between users increased by 302.9% to $228.7 billion. This indicates that the reduction in asset value was not accompanied by a comparable decline in all types of economic activity in blockchain networks.
Cross-border operations with stablecoins grew particularly noticeably. During the period under review, their volume increased by 77.5% – from $124.2 billion to $220.3 billion. Chainalysis notes that only transfers for which the sender and recipient countries can be reliably determined are included in the calculation, so the actual volume of such operations may be higher. The average size of a cross-border payment was about $3,000, which, according to analysts, corresponds more to everyday transfers between individuals and small companies than to large institutional operations. Stablecoins also showed less volatility in blockchain balances compared to other crypto assets: the total volume of cryptocurrency balances decreased from $860 billion in September 2025 to $440 billion in June 2026, whereas the volume of stablecoins remained in the range of $98–109 billion.
Separately, Chainalysis presented an updated global cryptocurrency usage index, which takes into account fund inflows into services, internal P2P transfers, cross-border flows, and blockchain balances. In the published data, Brazil showed a crypto economy volume of $252.5 billion, with the United States in the next position, followed by Nigeria, Japan, and South Korea. In Latin America, overall activity grew by 9.8% over the year to $593.8 billion. However, the dynamics of individual countries varied significantly: in Brazil, the figure decreased by 1.6%, whereas in Mexico, Argentina, Colombia, and Venezuela, growth was observed. In Venezuela, the volume of the crypto economy increased by 107.2% to $39.1 billion. These data show that changes in market capitalization and the actual use of digital assets can move at different speeds.
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