Analysts at TRM Labs reported a significant shift, with darknet marketplaces increasingly adopting Monero as their primary cryptocurrency for transactions.

TRM Labs findings

According to the report, nearly half of marketplaces launched in 2025 operated exclusively with the token, reflecting changes in payment preferences across illicit platforms.

Drivers of adoption

Researchers identify several factors behind the move, citing exchange delistings and intensified regulatory pressure as key reasons for operators to change payment rails.

• Delistings: Removal of privacy-focused assets from mainstream venues pushed some darknet operators to adopt Monero for its anonymity properties.
• Operational security: Market administrators prefer currencies that reduce on-chain traceability and complicate standard blockchain analysis methods.

Project stance and market dynamics

Monero developers emphasize that the project aims to protect privacy rights without oversight by banks or governments, framing development as a defense of individual privacy.

Although the price corrected after its peak, over the year Monero rose by 51%, outperforming Bitcoin and Ethereum in annual dynamics, the report notes.