Latin America is the fifth largest region, accounting for more than 9% of the global cryptocurrency volume. Between July 2023 and June 2024, the total inflow of funds into digital assets in the region increased by almost $415 billion. Latin America became the second region in the world in terms of crypto market growth after Africa.
At the same time, Argentina demonstrated the most outstanding results in terms of the overall influx of assets into the cryptocurrency industry – the country surpassed Brazil, Mexico, Venezuela and Colombia.
“Argentines are showing more interest in cryptocurrency than in official economic policies, which speaks to the significant role that cryptocurrency plays in a volatile market. It also shows the interest of citizens and their actions in managing financial futures,” the report said.
Chainalysis experts added that Argentina leads by a small margin from Brazil, another leading player in the region in terms of growth rates in the cryptocurrency market. Argentina’s performance from July 2023 to June 2024 is estimated at $91.1 billion, only slightly higher than Brazil’s $90.3 billion.
Earlier, the President of the Argentine National Securities Commission (CNV) Roberto Silva and Vice President Patricia Boedo held a meeting with the head of the National Commission for Digital Assets of El Salvador (CNAD) Juan Carlos Reyes. Following the meeting, its participants stated that the countries were considering the possibility of creating a financial alliance in which Bitcoin would play a key role.
Source: Bits
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