Blockchain analytics firm Chainalysis says stablecoins will still dominate illegal transactions in 2024. Chainalysis' Crypto Crime 2025 report claims that stablecoins accounted for 63% of all crypto transactions related to illegal activities last year. Since 2022, stablecoins have overtaken bitcoin as the most used cryptocurrency for such activity. "This new reality is part of a broader ecosystem trend in which stablecoins also account for a sizeable share of all crypto activity, as evidenced by the roughly 77 per cent year-on-year increase in stablecoin activity," the report says.