Bitcoin Value Increased to 70%
Chainalysis released a report on the value of Bitcoin sent to darknet in 2018 …
According to a report released by Chainalysis on January 18th, the Bitcoin value sent to darknet in 2018 increased by 70 percent.
Bitcoin price does not affect darknet
According to Chainalysis’s report, darknet activity is not usually affected by Bitcoin’s price movements. In fact, the data in the report shows that in 2018, the value of Bitcoin price and the value of darknet operations were reversed. According to the report, the value sent to the darknet market increased by 70 percent, according to the report, although the price of the bitcoin continued to fall steadily.
On the other hand, the report states that the total dollar value of the darknet market transactions has increased steadily since 2011. However, this value increased to 707 million dollars in 2017 and decreased by 14% in 2018 to 603 million dollars. According to the report, this decline in 2018 could be attributed to the closure of the famous darknet market Alphabay in mid-2017 .
Why has Darknet increased in 2018?
Also, after the closure of Alphabay, other darknet markets began to replace it. This is another reason why darknet operations increased in 2018. The report states this situation in the following words:
There is evidence that the Darknet process has increased even after closing.
According to Chainalysis data, the amount of Bitcoin sent to the darknet market in 2017 is only one percent of the entire market. In 2012, this rate reached 6 percent in 2012. Therefore, we can say that the ratio of Bitcoin , which has been sent to darknet since 2012, has decreased to the whole market.