Brazilian crypto exchanges saw $100K BTC trading volume in just 24 hours

17 Apr, 2019 | Updated: 17 Apr, 2019
by Fifi Arisandi
Brazilian crypto exchanges saw $100K BTC trading volume in just 24 hours

Brazilian crypto exchanges saw a huge Bitcoin trading volume as crypto prices increased. 

Brazil set a new record on Bitcoin trading volume on April 10th. Local crypto exchanges recorded over 100,000 BTC in just 24 hours, as reported by Cointrader Monitor.

The volume surge is apparently related to the recent Bitcoin price increase, as the timeline showed by Bitcoinist

But, on top of that, the surge of crypto trading volume is said to be heavily triggered by the plunging economy that was reported last February.

With such “achievement”, Brazil can be considered as a strong contender to Argentina’s supremacy in the Bitcoin market in Latin America.

That said, the Brazilian government’s stance towards crypto is not yet as welcoming as the Argentine government, although promising updates have emerged from the country.

Last month, a Brazilian court ordered a bank, Banco Santander to return the $335,000 funds to local exchange Mercado, which was frozen due to what the bank said as “violating their terms”.

A renowned supermarket chain in the country, Oasis Supermercados was also reported of accepting crypto payment in all their stores.

Who will be the winner in the crypto adoption race in Latin America? Stick with Chepicap for more updates.

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