Crypto economy fell just 1.6% in 12 months despite $2.1 trillion market cap rout, Chainalysis says
Chainalysis said measured global crypto economic activity fell 1.6% over the 12 months ended June 30, even as the wider market lost about $2.1 trillion in capitalization. In that same period, Brazil ranked first in Chainalysis’ grassroots crypto adoption index, ahead of the US, and Brazil’s crypto economy reached $252.5 billion.
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Brazilian users and businesses are the clearest immediate group affected because Brazil ranked first in grassroots crypto adoption and its crypto economy reached $252.5 billion over the 12 months ending June 30. That means activity in Brazil now stands out more than the US in this index, at least for the period measured.
What changed in practice is that measured crypto activity did not move in step with market value, since global activity still totaled about $9.4 trillion even as capitalization fell by about $2.1 trillion. At the same time, domestic peer-to-peer transfers and cross-border stablecoin flows were described as having grown sharply, so those channels remained active during the period.
Market reaction
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Where this sits in the JUST series
| When | What happened | Figure |
|---|---|---|
| 8 days ago | JST a 0.143 $ high | today it sits -5.7 % from there |
| 23 days ago | JST a 0.1122 $ low | today it sits +20.2 % from there |
From what we have stored, starting 23 days ago.