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“While total darknet market revenue has already surpassed 2019 totals, the overall number of purchases, and likely customers as well, has fallen significantly, though the remaining purchases are for higher values,” Chainalsys said. .

This trend is backed up by the data, which shows a sharp decline in the number of transfers sent to darknet markets, but an increase in total revenue

This theory is supported by the fact the number of active darknet markets themselves are also on the decline. 

According to Chainalysis, the total number of active markets in November 2020 (37) is the lowest total seen since November 2017. 

“Administrators often pull exit scams, in which the market ceases operations but publicly appears to still be active so that administrators can continue collecting money from purchases that will never be fulfilled,” Chainalysis said. 

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