Latin American crypto traders favor stablecoins over Bitcoin

Kaiko, a prominent cryptocurrency market analytics firm, has unveiled findings showing that Latin American crypto traders favor stablecoins over Bitcoin (CRYPTO:BTC).

According to their latest report issued in June, stablecoins, particularly Tether's USDT (CRYPTO:USDT), account for 40% of trading volumes in the region.

This preference persists despite Bitcoin's potential as a hedge against currency devaluation and inflation, which are common issues in many Latin American countries.

The report identifies instability in local currencies like the Brazilian real as a key driver for this trend.

While stablecoins dominate trading on most exchanges analysed, Bitcoin remains more prominent on platforms like Mercado Bitcoin, which handles a significant portion of the region's crypto transactions.