Crypto usage didn't break during the $2T market drawdown

chainalysis' 2026 Index shows global on-chain activity dipped just 1.6% to $9.4T despite market caps halving:

🔹 Cross-border stablecoin flows surged +77.5% ($220B)
🔹 P2P transfers jumped +303%
🔹 Brazil ranked #1 globally in adoption (ahead of US, Nigeria, Japan, SK)

Real-world utility is decoupling from price speculation