Brazil, the largest Latin American economy, broke a new record when Brazilian exchanges traded over 100 thousand bitcoin within 24 hours. In parallel, Brazil reported that its economic activity in February fell to the lowest level in the last nine months.
Brazil Trades Over 100,000 bitcoin in 24 Hours
The battle between Brazil and Argentina for the supremacy of the Bitcoin market in Latin America reached a new dimension. Cointrader Monitor, a monitoring tool that analyzes Bitcoin price movements in Brazil, announced that Brazilian cryptocurrency exchanges traded over 100,000 BTC on April 10, 2019.
Brasil negocia 100 mil Bitcoins e bate recorde da América Latina#BTC #BitCoinhttps://t.co/BpN4ZS09ro
— Cointrader Monitor (@CointraderM) April 15, 2019
This spike in the volume of bitcoins traded coincides with recent increases in Bitcoin values, surpassing the BRL 20,000 price mark. As a result, on April 10th, the total amount transacted was over BRL 2 Billion, (1 USD = 3.9 BRL) as shown in the graph below: