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Almost every nation has observed a growing adoption of the ones holding crypto over traditional products of the market like stock and commodities, yet a report on the growth of digital assets in Latin America by Bitso says that its clients in the region grew by 12% in the year 2024.
The report has argued that the bullishness in the adoption of crypto has been one of the major signs that reflects the growth of crypto worldwide.
Over 38% of users hold at least three cryptocurrencies
Bitso notes in its report that, to date, at least 38% of users hold three crypto tokens/coins, and this craze directly mirrors the migrating interest of traders and investors from traditional investment products to crypto.
It is worth noting that the constant devaluation of the national currency and the bleeding stock market have changed the path of investors. Also, the challenges faced by the launch of CBDC remain the major factors backing crypto growth.
Yet the report notes that buying stablecoins has attained an appreciated momentum in 2024, with a growth of 30% to purchase in 2023.
Despite the growth of stablecoin purchases in the region, buying Bitcoin has fallen significantly, indicating a fear among investors as its price has continued to face volatility.
In altcoins, BTC remains slow, yet memecoin sectors Pepe and Dogecoin saw growth, demonstrating a growing interest in meme tokens and projects.
XRP has gained global attention after it crossed the $1 mark
As per the data, the XRP price has gained a boost in growth momentum after the historic victory of Donald Trump; it crossed the much-awaited milestone of $1 and was also seeking to break its all-time high of $3.84 acquired in 2018.
Following this event, the total number of wallets holding XRP also grew significantly, with a growing transaction volume recorded in the year 2023.
Data from CoinMarketCap notes that the XRP price has added over 250% to its price in the past 365-day time frame; the market capitalization is $134.54 billion, with a surge of 318% in the half-yearly trading frame.
XRP prices also grew 2.06% in the past 24 hours, reportedly fueled by the news of Ripple’s full license in the United Arab Emirates.
The market is expected to beat $3 trillion by the end of this week
Over the past 48 hours, a slight correction has been noticed in the market’s sentiment, with capitalization at $2.68 trillion and intraday growth of 1.00%.
The improvement in the fear and greed index and the decline in bear activities indicate that it might recover by the end of this week. Market observers say that crossing the $85k by the end of this week is mandatory to retain the traders and their positive sentiments.
