Chainalysis: Gray Market Peptide Payments Surge Past $100M, Driven by Bitcoin and Stablecoins
Chainalysis reports on-chain payments for gray market peptides exceeded $100 million annually, with Q1 inflows jumping 159% to $32 million, partly due to high costs of weight-loss drugs like Ozempic.
Chainalysis data reveals that annual on-chain payments in the gray market for peptides have surpassed $100 million. The first quarter alone saw a 159% surge in inflows, from $12 million to $32 million, with second-quarter projections reaching $39 million.
Analysts attribute the growth to shortages and high prices of legal weight-loss medications such as Ozempic. Due to banking restrictions on non-prescription compounds, the industry has shifted predominantly to Bitcoin and stablecoins for transactions.
Source: ForkLog