China P2P stablecoin wallets grew 43x despite crypto restrictions: Chainalysis
Published . Updated .
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.
Directly affected
- CRCW Crypto
Named in this report.
Indirectly affected
- IBIT iShares Bitcoin Trust
This price moves with the crypto market
- COIN Coinbase
The crypto exchange moves with trading volumes
- MSTR Strategy
This company's value is tied to its bitcoin holdings
- MARA MARA Holdings
Bitcoin miners move with the bitcoin price
- RIOT Riot Platforms
Bitcoin miners move with the bitcoin price
- HOOD Robinhood
Retail trading apps move with crypto volumes
- FXI ISHARES CHINA LARGE-CAP ETF
GA selected FXI as a RELATED security because its canonical security name directly matches this event's themes: china. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article.
- KWEB KRANESHARES CSI CHINA INTERNET ETF
GA selected KWEB as a RELATED security because its canonical security name directly matches this event's themes: china. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article.
- YANG DIREXION DAILY FTSE CHINA BEAR 3X ETF
GA selected YANG as a RELATED security because its canonical security name directly matches this event's themes: china. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article.
- BITW BITWISE 10 CRYPTO INDEX ETF SHS REPSTG UNIT BEN INT
GA selected BITW as a RELATED security because its canonical security name directly matches this event's themes: crypto. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article.
Price reaction, T-5 to T+3
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.
Source: Cointelegraph
How far Ishares China Large-Cap Etf (FXI) has moved since 5 Oct 2026
Since the first closing price after “China P2P stablecoin wallets grew 43x despite crypto restrictions: Chainalysis,” Ishares China Large-Cap Etf (FXI) is -0.61%. The S&P 500 fund (SPY) is -1.60% over the same days, a +1.00% difference versus the market.
Who gains and who loses around Ishares China Large-Cap Etf (FXI)
Companies carried with this story
- FXI Ishares China Large-Cap Etf
Ishares China Large-Cap Etf (FXI) is linked, with no stored direction, medium confidence in the 5 Oct 2026 story “China P2P stablecoin wallets grew 43x despite crypto restrictions: Chainalysis.” Reason on file: GA selected FXI as a RELATED security because its canonical security name directly matches this event's themes: china. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article
- KWEB Kraneshares Csi China Internet Etf
In “China P2P stablecoin wallets grew 43x despite crypto restrictions: Chainalysis,” Kraneshares Csi China Internet Etf (KWEB) is linked, with no stored direction, medium confidence. Reason on file: GA selected KWEB as a RELATED security because its canonical security name directly matches this event's themes: china. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article
- YANG Direxion Daily Ftse China Bear 3X Etf
For “China P2P stablecoin wallets grew 43x despite crypto restrictions: Chainalysis,” Direxion Daily Ftse China Bear 3X Etf (YANG) is linked, with no stored direction, medium confidence. Reason on file: GA selected YANG as a RELATED security because its canonical security name directly matches this event's themes: china. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article
- BITW Bitwise 10 Crypto Index ETF
Bitwise 10 Crypto Index ETF (BITW) is linked, with no stored direction, medium confidence in the 5 Oct 2026 story “China P2P stablecoin wallets grew 43x despite crypto restrictions: Chainalysis.” Reason on file: GA selected BITW as a RELATED security because its canonical security name directly matches this event's themes: crypto. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article
- BLOX Nicholas Crypto Income Etf
Nicholas Crypto Income Etf (BLOX) is linked, with no stored direction, medium confidence in the 5 Oct 2026 story “China P2P stablecoin wallets grew 43x despite crypto restrictions: Chainalysis.” Reason on file: GA selected BLOX as a RELATED security because its canonical security name directly matches this event's themes: crypto. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article
- EZPZ Franklin Crypto Trust
Franklin Crypto Trust (EZPZ) is linked, with no stored direction, medium confidence in the 5 Oct 2026 story “China P2P stablecoin wallets grew 43x despite crypto restrictions: Chainalysis.” Reason on file: GA selected EZPZ as a RELATED security because its canonical security name directly matches this event's themes: crypto. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article
Ishares China Large-Cap Etf (FXI)
“China P2P stablecoin wallets grew 43x despite crypto restrictions: Chainalysis” (5 Oct 2026) reaches Ishares China Large-Cap Etf (FXI) through this story.
Ishares China Large-Cap Etf (FXI) is on the page because GA selected FXI as a RELATED security because its canonical security name directly matches this event's themes: china. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article
Also listed, Kraneshares Csi China Internet Etf (KWEB): GA selected KWEB as a RELATED security because its canonical security name directly matches this event's themes: china. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article
Dates in the story, and the Ishares China Large-Cap Etf (FXI) price range
FXI traded between 33.08 and 35.28 across 20 sessions. The latest close on file is 33.55. KWEB traded between 23.79 and 25.62 across 20 sessions. The latest close on file is 24.27. YANG traded between 28.71 and 34.71 across 20 sessions. The latest close on file is 33.31.
How strong the case is around Ishares China Large-Cap Etf (FXI)
46 out of 100
“China P2P stablecoin wallets grew 43x despite crypto restrictions: Chainalysis” scores 46 out of 100. The score uses 1 sources, and 6 linked companies.