MARKET NEWS
🇧🇷 Brazilian businesses turn to crypto on election day
On the day of the runoff election (October 25), Brazilian businesses flocked to crypto to hedge against the real losing value. They made the right call when Lula pulled off an upset and won reelection, even though the market had previously given him only a 20% chance.
• On the Mercado Bitcoin exchange, USDT trading volume rose nearly 800%, while BTC volume increased 865% compared with the previous week. Business accounts made up as much as 78% of total volume.
• After the election results, the USD rose more than 8% against the real, while USDT gained 10%.
The reason was market concern over Lula’s policies. He pledged to increase social spending and proposed banning online betting, putting pressure on the real and making it harder for the central bank to cut interest rates.
This development continues to draw the attention of global financial markets. If the news is confirmed in a positive direction, investor sentiment could improve significantly; otherwise, ongoing uncertainty could still create short-term selling pressure.
In the crypto market, investors should closely monitor price movements, capital flows, and further statements from the parties involved before making trading decisions.
👇 TRADE HOT COINS HERE 👇
$BTC
$ETH
$SOL
🇧🇷 Brazilian businesses turn to crypto on election day
On the day of the runoff election (October 25), Brazilian businesses flocked to crypto to hedge against the real losing value. They made the right call when Lula pulled off an upset and won reelection, even though the market had previously given him only a 20% chance.
• On the Mercado Bitcoin exchange, USDT trading volume rose nearly 800%, while BTC volume increased 865% compared with the previous week. Business accounts made up as much as 78% of total volume.
• After the election results, the USD rose more than 8% against the real, while USDT gained 10%.
The reason was market concern over Lula’s policies. He pledged to increase social spending and proposed banning online betting, putting pressure on the real and making it harder for the central bank to cut interest rates.
This development continues to draw the attention of global financial markets. If the news is confirmed in a positive direction, investor sentiment could improve significantly; otherwise, ongoing uncertainty could still create short-term selling pressure.
In the crypto market, investors should closely monitor price movements, capital flows, and further statements from the parties involved before making trading decisions.
👇 TRADE HOT COINS HERE 👇
$BTC
$ETH
$SOL
