According to Woofun AI, Chainalysis released the 7th annual “Geographic Distribution Report” to The Block, revealing that in the 12 months ending June 30, 2026, the total market capitalization of the crypto market plummeted 50% (shrinking by $2.1 trillion), but the scale of economic activity contracted by only 1.6%.
Capital flows were sharply divided: inflows from exchanges and DeFi platforms fell 4.3% to $8.9 trillion, while domestic peer-to-peer transfers surged 302.9% to $228.7 billion. According to data compiled by Woofun AI, cross-border stablecoin circulation increased by 77.5%, from US$124.2 billion to US$220.3 billion, mainly due to an average of $3,000 in personal payments and remittances, rather than institutional applications.
This period became the worst bear market since 2022, with the total economy falling from $9.5 trillion to $9.4 trillion, or about $100 billion.
Stablecoins have shown strong resilience, with balances fluctuating between $98 billion and $109 billion, better than the global chain balance falling from $860 billion in September 2025 to $44 billion in June 2026. Based on the four indicators of service traffic, domestic peer-to-peer transactions, cross-border flows, and on-chain balance, Brazil ranked first in the world with a scale of US$252.5 billion, second in cross-border flows, third in total flow, and fourth in terms of on-chain balance; the US ranked second, followed by Nigeria, Japan, and South Korea.
Despite a slight decrease of 1.6% in the volume of activity in Brazil, the overall Latin American economy grew 9.8% to US$593.8 billion. Mexico, Argentina, and Colombia all achieved growth, with Venezuela showing the most impressive performance, and its economy soared 107.2% to US$39.1 billion. This shows that against the backdrop of macroeconomic pressure on market capitalization, the Latin American region is becoming the core engine of the crypto economy's countertrend expansion with high inflationary currency replacement demand.