PANews reported on June 5th that, according to The Block, a new report from Chainalysis shows that as the gray market for peptide compounds used for purposes such as weight loss and anti-aging explodes, leading sellers are turning to Bitcoin and stablecoins for transactions. In the first quarter of 2026, the value of cryptocurrencies flowing into this space increased by 159% quarter-over-quarter, reaching $32 million. Chainalysis points out that the annualized size of the peptide market has exceeded $100 million, with cryptocurrencies becoming a mainstay of payments as traditional banks and credit card institutions prohibit the trading of prescription-grade compounds.

Leading sellers are demonstrating more sophisticated on-chain financial operations, typically relying on Bitcoin and stablecoins. Sellers with daily deposits exceeding $1,000 have stablecoins dominating their asset portfolios, possibly to mitigate price volatility in the crypto market. Chainalysis also found that as the number of buyers surged, spending on quality testing decreased by 88%, with some organizations accused of selling fentanyl shifting towards peptides.