Chainalysis: Global crypto economic activity dips 1.6% as market cap sheds $2.1 trillion

According to the seventh annual Geographies report by Chainalysis, global crypto economic activity contracted by only 1.6% to $9.4 trillion in the 12 months ending June 30, 2026, despite a 50% drop in total market capitalization. While inflows to exchanges and DeFi protocols fell by 4.3%, domestic P2P transfers surged by 302.9% to $228.7 billion, and cross-border stablecoin flows rose by 77.5% to $220.3 billion. Stablecoins demonstrated greater value retention compared to other assets during the market downturn.