Darknet Market Crypto Revenues Hit All-Time Highs in 2020
A study revealed that darknet markets have astonishing figures so far in 2020, despite the coronavirus pandemic, but the dynamics changed compared to the last year’s numbers. Darknet Vendors Surpassed $800 Million in Revenues Despite Covid Pandemic According to the Chainalysis report, darknet marketplaces surpassed the $800 million threshold worth of cryptocurrencies in revenue made in 2019, the all-time high. However, the exact figures for 2020 will be released in the “Chainalysis 2021 Crypto Crime Report” in January 2021. However, the research firm noted that the....
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Darknet market revenues hit a new all-time high in 2020, despite declining individual purchases from marketplaces. Blockchain analytics firm Chainalysis also spotted a singular driver behind the new record witnessed over the last year. Hydra Market Is the Major Driver Behind Revenue Figures in 2020 According to the Chainalysis 2021 Crypto Crime Report, darknet markets brought in a total of $1.7 billion worth of cryptocurrencies in 2020. But the report unveiled that Hydra Market, one of the largest illegal marketplaces in the darknet, boosted the total revenue significantly. In fact,....
The prominent darknet marketplace, White House Market, has dropped bitcoin payments and now accepts monero only. The darknet marketplace administrators detailed that there was an issue with a payment processor blocking Tor exit nodes, but the full transition to monero was always planned. A number of crypto proponents have reported on the darknet marketplace, White House dropping bitcoin (BTC) payments in order to exclusively support monero (XMR). On December 28, one individual on Twitter wrote: “[One of the] largest darknet markets, White House Market, drops bitcoin support, now only....
Square, Inc. (SQ) reported first quarter 2021 earnings this week, and the company revenues vastly surpassed the analyst’s expectations. Quarterly revenues to start the year came in at over $5B USD, compared to average analyst projections anticipated $3.37B. In the last quarter of 2020, the company purchased $50M worth of BTC, and followed that purchase […]
Ever since the arrest of Ross Ulbricht in San Francisco, online darknet marketplaces have remained a formidable means by which individuals can procure illegal goods. Authorities, well-aware, have investigated and made arrests in the time since Ulbricht’s trial. During that time, discussion has increased regarding the actual anonymity provided by the darknet. As has been proven more than once, just being on the darknet does not guarantee a user’s anonymity, and this is the message law enforcement is trying to spread. There are investigatory methods being used – and successfully – which have....
Bitcoin miner revenues have been in decline since the bear trend began and this has led a good number of miners to sell their BTC holdings in order to keep their operations afloat. However, the expectation that the bear market would soon resolve and miners would once again be in the green has since gone out the window. With miner revenues continuing to plummet, miners may have to resume selling off their holdings to keep up with the market. Miner Revenues Fall For the past week, there has been no change in the downtrend in miner revenues. On-chain metrics show that it was down 0.59% from....