Chainalysis Says ‘Looksmaxxing’ Demand Has Created a $100 Million Gray Market Paid Mostly in Crypto

Chainalysis says the growing demand for peptides tied to the online “looksmaxxing” trend has helped create a gray market worth about $100 million. According to the blockchain analytics firm, much of the activity is being paid for with cryptocurrency.

The report says Bitcoin and stablecoins are the main payment methods used in this market. The rise of crypto payments appears to have made it easier for sellers and buyers to transact in a sector that operates outside traditional retail channels.

“Looksmaxxing” refers to an internet-driven emphasis on appearance optimization, and the demand has extended to products marketed for cosmetic or performance-related purposes. Chainalysis’ estimate highlights how niche consumer trends can develop into larger underground commercial networks.

The company did not indicate that all of the market activity is illicit, but described it as a gray market. The findings add to a broader picture of how cryptocurrency continues to be used in sectors that sit between regulated commerce and informal online trade.