Chainalysis confirms ‘top-tier’ gray market peptide vendors turn to bitcoin and stablecoins
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As the semi-legal peptide sector explodes, driven by a confluence of online trends like "looksmaxing" and the "Make America Healthy Again" movement, more and more suppliers and buyers are turning to cryptocurrency, Chainalysis said Thursday in a new report.
Key facts
- However, "testing spend crashed by an estimated 88% to $8 per buyer," even though "Janoshik is testing more than ever before," Chainalysis said, due to the sheer rise in the number of buyers
- According to the analysis firm, the appetite for off-label peptides, the building blocks of proteins used as a dietary supplement, and across the health, wellness, and fitness spaces, has surged past
- When isolating vendors that average $1,000 or more per deposit, the asset mix shifts heavily toward majority stablecoins, a potentially calculated move to insulate massive supply chain orders
- As the semi-legal peptide sector explodes, driven by a confluence of online trends like "looksmaxing" and the "Make America Healthy Again" movement, more and more suppliers and buyers are turning
Summary
According to the analysis firm, the appetite for off-label peptides, the building blocks of proteins used as a dietary supplement, and across the health, wellness, and fitness spaces, has surged past a $100 million annual run rate. What started as a niche interest among biohackers has entered the public conversation, primarily driven by the success of GLP-1 peptide drugs like Ozempic and Wegovy, leading to search interest for other solutions that can be used for anything from suppressing appetite to repairing cell damage.
"This demand has given rise to ‘gray market’ peptides and a network of overseas suppliers selling raw, unbranded products directly to buyers at a fraction of the pharmacy price," Chainalysis said.