cocane Sales Down! Dark Web ! Money Laundering -
My Opinion: I have a hunch that a ton of money is leaving Chinese Shores Via Crypto Currency and this just might be why crypto has not been yet regulated !
Darknet markets have surpassed their 2019 revenue this year with a month to spare, according to a report published by Chainalysis yesterday.
Darknet markets have always commanded great interest in the crypto community, first sparked by the infamous Silk Road, which plagued Bitcoin’s reputation during its formative years. Silk Road might seem like a distant memory by now, but darknet markets have persisted. And while the number of markets appears to be on the decline, those that remain are making more money than ever before.
“While total darknet market revenue has already surpassed 2019 totals, the overall number of purchases, and likely customers as well, has fallen significantly, though the remaining purchases are for higher values,” Chainalsys said.
Darknet market vendors have suffered—as legitimate vendors have—through a strained postage and shipping network on account of Covey . However, according to Chainalysis, the driving force of this revenue is a combination of increased competition and efforts by law enforcement to crack down on the markets themselves.
Consequently, the darknet market industry has consolidated to a smaller number of bigger players.
This trend is backed up by the data, which shows a sharp decline in the number of transfers sent to darknet markets, but an increase in total revenue. In the below graph, the currencies included are Bitcoin, Bitcoin Cash, Litecoin, and Tether.
On a darknet market forum, one cocane vendor based in Canada said, “With Covey causing massive interruptions across the nation, I am still trying my best to keep prices reasonable but competitive,” adding, “Canada post is not guaranteeing two business day delivery for the time being.”
#mikemartins #darkweb #bitcoin