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20/08/25 18:34 UTC-04

Latin American Crypto Exchange Trading Volume Surges by 800%

According to Dune Research, the key drivers behind the growth of cryptocurrency operations in Latin America are social and economic factors such as political instability and high inflation. For example, in Argentina, where the local fiat currency is facing devaluation, Bitcoin and Ethereum have become popular tools for hedging investment risks, while dollar-backed stablecoins like USDT are actively used for everyday transactions due to their price stability.

In addition, younger generations are becoming increasingly engaged with cryptocurrency technologies. Latin America leads in the growth rate of crypto investors, particularly among users under 35. They are attracted by the accessibility and ease of purchasing tokens through local exchanges, Dune Research experts explained.

The Latin American cryptocurrency market reached around $162 billion by the end of the year but could grow to $442 billion by 2033, with an annual growth rate of around 11%, according to Dune Research analysts.

The largest Latin American crypto exchange, Bitso, has significantly strengthened its market position. In 2021, the platform processed $2 billion in transactions, but by 2024, Bitso’s trading volume had soared to $25.2 billion — a 1160% increase — accounting for more than 93% of the region’s total digital asset transactions. Close competitors such as Mercado Bitcoin and Lemon Cash also reported substantial transaction growth over the same period, Dune Research noted.

Earlier, Bitso reported that the most popular assets among Latin American traders are the stablecoins USDC and USDT, which together account for about 39% of total digital asset purchases.

See also: "Bowman from the Fed calls for blockchain adoption in the banking system"

#Crypto Market #Stablecoins

Editor: Alyona Nabok
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