Analysis of Coinmarketcap data showed that the Brazilian crypto market is growing and will reach high levels in 2021
The market value of the assets is $2.1 trillion. Half of this figure is made up of Bitcoins. The growth of trading volume is associated with the popularity of cryptocurrencies whcih attracts new investors.
In many ways, the catalyst for the crypto popularity was the launch of the Brazilian-ETF. It was listed on the stock exchange on April 26 and quickly became the third largest daily trading.
The popularity of trading on the Capitual platform, which operates in 48 countries, has also contributed to the stimulation of cryptocurrencies. The user base of this platform has increased from 20 to 600,000 crypto users in a year. This increased the number of transactions that reached hundreds of thousands and the trade reached 3 billion reais.
According to a representative of Banco Capitual, Brazil is a promising market. However, the company's interest extends far beyond its limits.
All of Latin America is interested in cryptocurrency. Therefore, the platform is expanding its business to Argentina. This will be an additional incentive for the crypto development in the region.