The High inflation as well as Strict capital controls promoted the use of Stablecoins as an alternative to weight. In 2024, the purchase of Digital dollars represented 72% of the total crypto in the countrybut there were also those who acquired pesos to take advantage of the high interest ratesgenerating a “Carry Trade” that appreciated the weight during the year. While digital dollars (USDT and USDC) led purchases, in the year of Bitcoin The greatest interest in calls highlighted “Altcoins”, as Ether, XRP, Solana, and the Memecoins.
The data arises the third edition of “Crypto panorama in Latin America” of Bitsothe Crypto Financial Services Company, which reveals the main trends of industry in Argentina and the region in the second semester of 2024 on the purchase, possession and value of cryptocurrencies.
The performance of cryptocurrencies in 2024
In the first half of the year, the crypto sector was aware of a new cryptoverano, especially after the room “Halving” of Bitcoinhaving reached its maximum historical price and after the ETFS approval (Funds quoted in the stock market, for its acronym in English) of this leading crypto. In the second semester, market optimism was marked by return Donald Trump to the White House with a pro-written speech that generated expectations of a more favorable regulatory environment.
As a consequence, by the end of 2024 the price of Bitcoin marked several historical maximums until the barrier of the U $ S100,000 and reach the record of U $ S109.115 In December, promoting the market value of all cryptocurrencies, which reached the maximum of US $ 3.91 billion.
These milestones led to greater crypto adoption between people and companies globally: Bitso users grew 12% compared to 2023, to exceed 9 million in the region, of which 1.6 million correspond to Argentina (+11%).
“In the last semester, we not only noticed a growth in number of users, but also that they decided to venture into new assets. While inflation and cultural issues encouraged Argentines to look Julián ColomboGeneral Director of Argentine Bitsoduring the presentation of the new crypto panorama in Latin America.
Argentine profile with crypts
In Latin America, more than a third of local users (38%) are between 25 and 34 years old, escorted by the age group of 18 to 24 (23%) and, 35 to 44 years (11%). The “trading” activity was especially among the most active economically active groups, which are 25 to 54 years.
Argentina stands out for being the country with the greatest female participation among all analyzed, with 31% of the total trading users After growing 3 percentage points compared to 2023. However, Latin women tend to join the world crypt at a more advanced age than men: they go from representing 27% of total users in the youngest segment (from 18 to 24) to exceed 40% from 55 years and 43% from 65.
In terms of portfolio diversification, half of Argentines have only one crypt; 20%, two and the remaining 29%, three or more.
The country stands out again for its marked preference for digital dollarswhich were the most acquired currencies: they represented 72% of the total, 50% of USDT and 22% USDCcompared to 39% average in Latin America. “As in the last reports, the largest amount of purchases occurs in the first week of the month and, in general, they turn to Crypto dollars, which realizes that many acquire crypto when collecting the salary, to protect themselves while generating yields”, He added.
Second was located Bitcoinwith 8% of the total purchases, compared to 22% of the region. Then, the Memecoin Pepe (with 4% of the total), XRP (3%), Ether (2%) and Solarium (2%). In Latin America, XRP (9%) and Pepe (6%) occupied the third and fourth place, behind the Stablecoins (39%) and Bitcoin (22%).
Changes in portfolios
The diversity of assets in the portfolios generated an advance in the purchase of other crypts, which expanded beyond Bitcoin and Ether To include a variety of Altcoins, in search of diversification and possible greater returns. In fact, an increase in Altcoins stands out in relation to Bitcoin, as well as the increase in stablecoins and fiduciary currencies.
In Argentina, 46% of the portfolios are made up of Bitcoin as of December 31, 2024, compared to 56% of the previous year; It is followed by stablecoins, with 16% (vs. 18% of 2023), Ether (10%), XRP (7%) and Memecoins (4%).
“In this reduction in Bitcoin in the portfolios, both in Argentina and in the region, the historical maximums that its price reached, which allowed investors to obtain significant profits and then reinvest them in other crypto with risk degrees and potential greater yields, such as the Altcoins, such as the Altcoins, may have influenced. Users also found in the stablcoins a shelter before the devaluation of their local currencies, which directly affects their purchase decisions, ”said Colombo.
Source: Ambito
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