Latin America’s (LATAM) centralized crypto exchanges grew from area of interest platforms into vital monetary infrastructure in three years, with flows rising ninefold, in accordance with new analysis.
Dune Analysis’s LATAM Report revealed that 2021 annual crypto trade flows within the area totaled $3 billion. In 2024, the full trade flows for LATAM reached $27 billion, up by 800%, signaling robust regional digital asset development.
In its early years, LATAM crypto exercise was modest by world requirements. Nonetheless, a fragmented ecosystem of small brokers and over-the-counter (OTC) desks grew into built-in exchanges serving retail and institutional purchasers.
In response to Dune Analytics, flows from early 2021 to mid-2025 by way of LATAM-based centralized trade platforms confirmed a transparent arc of “development maturity and consolidation.”
Bitso stays probably the most dominant LATAM trade by flows
Since 2021, crypto trade Bitso has dominated the Latin American market. On the time, the trade processed over $2 billion in flows, greater than 66% of all of the flows within the area.
In 2024, the trade processed greater than $25.2 billion in flows, or 1,160% development in three years. Its share of trade flows grew to 93% throughout the identical interval.
Other than Bitso, gamers like Mercado Bitcoin and Lemon Money additionally noticed elevated trade flows. The Dune report additionally highlighted that the circulation enhance occurred with out a sustained bull run.
“Crucially, this development got here with out a sustained bull market, reflecting a shift towards real-world utility equivalent to cross-border commerce, remittance settlements, and forex hedging,” Dune stated.
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Ethereum accounted for over $45.5 billion in total flows since 2021
The report confirmed that Ethereum-based transfers dominated the market. From January 2021 to July 2025, community transfers have reached over $45.5 billion. This quantity is roughly 75% of all recorded flows all through the interval.
The report stated that Tron ranked second by way of transfers, with over $12.5 billion. The report stated this was largely pushed by low-cost Tether (USDT) transfers within the community.
As of Tuesday, Tron holds the biggest quantity of USDT, with $81.8 billion in tokens circulating on the community, according to Tether. Ethereum follows with $80.3 billion.
Solana ranks third in LATAM with $1.45 billion in whole flows, whereas Polygon follows with $1.17 billion.
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