Chainalysis: Crypto Shifts from Speculation to Payments Despite Market Cap Decline

Chainalysis released its 2026 Global Crypto Adoption Index on September 23. While the total cryptocurrency market capitalization dropped by approximately $2.1 trillion—nearly halving—during the 12 months leading up to June 30, on-chain economic activity increased by 9.5% compared to the previous year, with peer-to-peer transfers quadrupling.