Stablecoin Boom: USDT Surpasses Trading Volume Of All Combined Cryptos In Brazil.
Brazil’s Special Department of Federal Revenue, Receita Federal, has reported a bloom in stablecoin usage, particularly Tether-issued USDT. According to the report, USDT trading volume surpassed all cryptocurrencies combined recorded in 2022. This report reflects the increased adoption of stablecoins as a means of payment by Brazilians amid rising inflation.
USDT Dominates Other Cryptocurrencies In Trading Volume
Notably, Stablecoins account for about 10% of the global cryptocurrency trading volume. Most people regard the class of digital assets as a haven during increased market volatility. This may be due to their fiat currency peg that makes them relatively stable than conventional crypto assets.
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Stablecoin Boom: USDT Surpasses Trading Volume Of All Combined Cryptos In Brazil.
Brazil’s Special Department of Federal Revenue, Receita Federal, has reported a bloom in stablecoin usage, particularly Tether-issued USDT.
According to the report, USDT trading volume surpassed all cryptocurrencies combined recorded in 2022. This report reflects the increased adoption of stablecoins as a means of payment by Brazilians amid rising inflation.
USDT Dominates Other Cryptocurrencies In Trading Volume
Notably, Stablecoins account for about 10% of the global cryptocurrency trading volume. Most people regard the class of digital assets as a haven during increased market volatility. This may be due to their fiat currency peg that makes them relatively stable than conventional crypto assets.