Chainalysis reports a significant shift in the peptide grey market, with leading suppliers increasingly using Bitcoin and stablecoins for transactions. In Q1 2026, cryptocurrency inflows into this market surged by 159% to $32 million. The annualized market size now exceeds $100 million, driven by traditional financial institutions' restrictions on prescription-grade compound trading. Sellers with daily deposits over $1,000 predominantly hold stablecoins to manage crypto market volatility. The report also highlights a concerning trend: as the number of buyers increases, spending on quality testing has plummeted by 88%. Some organizations previously involved in selling fentanyl are now pivoting to peptides, raising potential safety and regulatory issues.
Peptide Grey Market Suppliers Shift to Bitcoin and Stablecoins
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