It's Back to BTC for Darknet Markets After Monero's Binance Delisting: Chainalysis

It's Back to BTC for Darknet Markets After Monero's Binance Delisting: Chainalysis

Privacy tokens have been suffocated as governments around the world fight darknet markets – so it's back to bitcoin for purchasers of illicit goods.

Experts from the analytical company Chainalysis reported that darknet platforms are returning to using the first cryptocurrency for payment after the delisting of the Monero (XMR) coin from exchanges.

Russian-language darknet markets still dominate, driving 97% of Bitcoin and TRON drug sales

While Western darknet markets faltered, Russian platforms dominated Bitcoin and TRON drug sales, analysts at TRM Labs say. Darknet marketplaces saw a slight revenue bump in 2024, bringing in over $1.7 billion, with Russian-language platforms still leading the way in…

Bitcoin’s Dominance Rises as Privacy Coins Face Accessibilit

Accessibility issues force darknet users to prefer Bitcoin over privacy coins. Regulatory pressure continues to challenge the presence of privacy-focused cryptocurrencies. Continue Reading:Bitcoin’s Dominance Rises as Privacy Coins Face Accessibility Issues The post Bitcoin’s Dominan...

Back to BTC: Darknet Markets Shift Following Monero's Binance Delisting, Says Chainalysis Insights - Market-News24

Darknet markets are shifting back to using Bitcoin as their main cryptocurrency due to challenges with privacy coins like Monero. Eric Jardine from Chainalysis highlighted that as some major exchanges stopped supporting Monero, Bitcoin’s usage increased significantly. Previously, many darknet markets had favored Monero for its privacy features, but its removal from exchanges made it ...

It's Back to Bitcoin for Darknet Markets After Monero's Binance Delisting: Chainalysis

Darknet markets are increasingly returning to bitcoin (BTC) as their primary cryptocurrency because of rising liquidity and accessibility challenges associated with privacy-focused coins like monero (XMR), according to Eric Jardine, cybercrime research lead at Chainalysis. “After major exchanges delisted XMR, we observed a significant increase in bitcoin inflows,” Jardine said in an interview with CoinDesk.... The post It’s Back to Bitcoin for D…