According to Dune's report, crypto exchange volumes in Latin America surged, reaching $27 billion from 2021 to 2024. Key blockchains like Ethereum, Tron, and Solana were instrumental in this growth.
Key Achievements in LATAM Crypto
Crypto exchange volumes in Latin America increased ninefold, reaching $27 billion from 2021 to 2024. This increase reflects changes in the region's financial infrastructure, particularly in payments and remittances.
Bitso's Market Dominance
Bitso emerged as the leading exchange in LATAM, holding a 93% market share by 2024, accounting for $25.2 billion in exchange flows. This marks a significant increase from 66% back in 2021.
Impact of Stablecoins on Financial Infrastructure
Stablecoins, including USDT and USDC, accounted for over 90% of trading activity on the market. These developments underscore the growing importance of cryptocurrencies as financial tools in Latin America.
Dune's conclusion indicates that cryptocurrencies are becoming vital tools for everyday transactions and financial solutions in LATAM, highlighting their growing significance in the region.
