Kaiko Research: Latin American cryptocurrency traders prefer stablecoins over Bitcoin

ChainCatcher news, cryptocurrency market research and analysis company Kaiko found that cryptocurrency users in Latin America prefer stablecoins over Bitcoin. In its latest Latin American market report released in June, 40% of the trading volume involved USDT.

Similarly, nearly half of the trades involving the Brazilian real also included stablecoins, Kaiko explained, due to the instability of the Brazilian currency and inflation in the region. The report analyzed data from seven cryptocurrency exchanges that offer trading pairs, including Kucoin, Binance, Mercado Bitcoin, Bitso, Htx, Okx, and Bitfinex.