RATE Group | Bitcoin Activity on the Dark Web Grew by 65% in Q1 2020, Says Study
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Bitcoin Activity on the Dark Web Grew by 65% in Q1 2020, Says Study

19 May Bitcoin Activity on the Dark Web Grew by 65% in Q1 2020, Says Study

Posted at 21:08h in Bitcoin News by

A study from Crystal Blockchain Analytics on May 19 shows that the total USD value of Bitcoins transferred on the dark web rose by 65% ​​in Q1 2020, despite a decline in transactions during the same period in 2019.

According to the report, the total value of Bitcoin (BTC) transacted represented a 340% growth over three years. The analytics team claims that such figures could find explanation in mass adoption of the cryptocurrency, attributing it to its “ease of use and popularity” among darknet users and entities.

The Bitcoin technology firm also unveiled that the total amount received by darknet sites decreased from 64,000 BTC in Q1 2019 to 47,000 BTC in Q1 2020, while the total amount sent by such dark web sites showed a fall from 64,000 BTC in Q1 2019 to 50,000 BTC in Q1 2020.

However, the figures show that in terms of the amounts in USD, dark-net actors received and sent an increased amount of money, from $384 million in Q1 2019 to $411 million in Q1 2020. Bitcoin was worth…

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