More and more traders from Latin America are used by USDC and USDT stabilcoins, they accounted for 39% of the total purchases in 2024, the BITSO cryptocurrency exchange said.

The total purchases of stablecoins since 2023 increased by 9%. Last year, USDC (24%) became a leader in Latin America. USDT had a 15% total cryptocurrency purchased on BITSO. The spread of stablecoins in Latin America is due to difficult economic conditions: high inflation and devaluation of state currencies. Therefore, traders from Latin America consider stable cryptocurrencies a reliable means of savings, representatives of BITSO said.

The volume of bitcoin on Bitso in 2024 decreased markedly – its share decreased to 22%, while in the second half of 2023 this indicator was 38%. In BITSO, BTC purchases were reduced by the growing trend of long -term storage of this cryptocurrency – traders hope to make a profit in the future. The decrease in BTC purchases coincided with the bull trend of the crypto, when Bitcoin exceeded $ 100,000 in December.

Argentina has become the largest market for USDT, the country accounted for 50% of the total volume of transactions with this token on the exchange. This is due to a high level of inflation in the country, which contributes to the active use of stablecoins by local traders. In 2024, Argentinean users of BITSO mainly bought USDT (50%) and USDC (22%). The share of bitcoin purchases in Argentina turned out to be the lowest among Latin American countries, amounting to only 8% of the total volume of cryptocurrency transactions for BITSO for the past year. In Brazil and Mexico, Bitso users still preferred bitcoin. The share of BTC purchases in these countries was 22% and 25%, respectively.

Earlier, BITSO added TRON blockchain support when making transactions in USDT to increase the speed of operations and reduce their cost. According to Defillama analysts, in January, the capitalization of the global stabelcoin market exceeded $ 212 billion.