China P2P stablecoin wallets grew 43x despite crypto restrictions: Chainalysis

Crypto Insight Summary: Unique wallets sending P2P stablecoin transactions in China grew 43-fold between Q1 2024 and Q2 2026 as crypto activity increasingly shifted toward direct wallet-to-wallet transfers. Crypto Insight Analysis: Direction: Bullish USDT / Bullish USDC Impact: Major Impact Horizon: Long-term (1 quarter-1 year) Reasoning: Massive growth in P2P stablecoin usage in China signals strong demand despite regulatory pressure.