๐ง๐ท๐จ BRAZIL ELECTION SHOCK:
CORPORATE CRYPTO VOLUME SURGES 865%
๐ฐ THE FACT:
Institutional capital in Brazil went into a frenzy following President Lula's unexpected re-election.
USDT volume on Mercado Bitcoin skyrocketed by nearly 800%, while Bitcoin volume surged 865%.
๐ผ TREASURY FLIGHT:
Corporate accounts drove 78% of the weekend volume, using crypto to hedge their treasuries while traditional banking channels were closed.
๐ TRADFI BLOODBATH:
The move materialized as the benchmark Ibovespa stock index crashed -14% (worst day since 2020) and the US dollar jumped +8% against the Brazilian Real (largest daily gain since 1999).
๐ RELATED ASSETS:
1๏ธโฃ $USDT / $USDC
(Corporate dollarization tools)
2๏ธโฃ $BTC
(Macro store of value)
3๏ธโฃ BRL (Local currency under heavy debasement)
#Brazil #USDT #bitcoin #Ibovespa #MacroEconomics #BinanceSquare
CORPORATE CRYPTO VOLUME SURGES 865%
๐ฐ THE FACT:
Institutional capital in Brazil went into a frenzy following President Lula's unexpected re-election.
USDT volume on Mercado Bitcoin skyrocketed by nearly 800%, while Bitcoin volume surged 865%.
๐ผ TREASURY FLIGHT:
Corporate accounts drove 78% of the weekend volume, using crypto to hedge their treasuries while traditional banking channels were closed.
๐ TRADFI BLOODBATH:
The move materialized as the benchmark Ibovespa stock index crashed -14% (worst day since 2020) and the US dollar jumped +8% against the Brazilian Real (largest daily gain since 1999).
๐ RELATED ASSETS:
1๏ธโฃ $USDT / $USDC
(Corporate dollarization tools)
2๏ธโฃ $BTC
(Macro store of value)
3๏ธโฃ BRL (Local currency under heavy debasement)
#Brazil #USDT #bitcoin #Ibovespa #MacroEconomics #BinanceSquare
