Chainalysis: Iran's crypto ecosystem reaches $7.8 billion amidst protest wave

Cryptocurrency usage in Iran has surged amid large-scale protests beginning in late December 2025, as the rial collapsed and the economic situation worsened. According to a report by Chainalysis, Iran’s crypto ecosystem reached approximately $7.78 billion in 2025, driven by increased Bitcoin activity as many citizens withdrew funds from exchanges to personal wallets to preserve value during times of instability.

This trend reflects the demand for alternative financial solutions as the local currency depreciates. Bitcoin’s censorship resistance and self-custody features have made it not only a store of value but also a flexible tool in an environment restricted by internet cuts and government controls. The report also notes significant activity from entities related to the Revolutionary Guard, accounting for the majority of crypto flows by the end of 2025, demonstrating both civilian and state use amid economic tensions. Crypto is expected to continue playing an important role as sanctions and economic volatility persist.