Brazilian firms fled to stablecoins on election day as the real crashed
- —USDT volume on Mercado Bitcoin rose nearly 800% on election day
- —Bitcoin trading volume on the exchange surged 865%
- —Binance's USDT/BRL market tripled
- —The global BTC/USDT pair declined over the same period
Why it matters: The surge shows local investors using stablecoins as a hedge against currency devaluation, a key demand driver in emerging markets.
Source: CoinDesk