Cryptocurrency Seeps into Grey Market for Peptide Products

Chainalysis has released a report highlighting the growing trend of grey-market peptide product suppliers using cryptocurrency for transactions.

The report reveals that as demand for these products continues to rise, driven by cosmetic medicine and health trends, relevant suppliers are turning to Bitcoin and stablecoins to facilitate their business.

The data shows that in the first quarter of 2026, crypto funds flowing into this sector reached $32 million, representing a 159% increase from the previous quarter's $12 million. The annualized volume has already exceeded $100 million.

Chainalysis notes that some leading suppliers have adopted more professional on-chain fund management methods, particularly among those with average transaction deposits over $1,000. This shift towards stablecoins may be an effort to reduce the risk of supply chain disruptions caused by crypto market volatility.