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Despite China’s continued strict crypto restrictions, P2P trading of stablecoins has surged significantly. 📈 According to Chainalysis, the number of wallets sending stablecoins via P2P increased 43-fold between Q1 2024 and Q2 2026. From July 2025 to June 2026 alone, China recorded approximately 18.1 million transactions involving self-custodied stablecoins, with a total value of around $104.1 billion. 💰 This clearly shows that demand continues to grow despite the restrictions.

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