XRP is increasingly adopted throughout Latam, where investors turn from other altcoins
Ripple XRP is the most broken by Latin American population (Latam). A new report issued by Crypto Exchange Bitso revealed this, indicating that 9 % of all encryption purchases in the region in 2024 were XRP.
This was more than ETHER (ETH), which was only 5 %, and Solana (SOL) by 4 % during the same period, indicating that XRP is the most popular among encryption investors in the region.
Bitu It is one of the best financial services companies that focus on encryption in the region, with nine million retail users across Argentina, Mexico, Colombia and Brazil. The company relied on its report on the purchase and retaining behavior of individuals who used its platform in 2024 compared to 2023.
Interestingly, attention to XRP seems very new. The data indicates that the percentage of XRP in the average investor portfolio increased from 0 % in 2023 to 12 % in 2024. It is possible that the enormous increase in interest due to the rapid gains in XRP from late 2023.
Altcoin has been fighting since the US Securities and Exchange Committee (SEC) filed a lawsuit against its ripples on XRP position in late 2020. However, it witnessed a reflection in late 2023 after Donald Trump’s victory in the US presidential elections.
In the aftermath of the elections, XRP increased by more than 300 %, reaching new levels for the first time in years. Although it is now declining to $ 2, XRP is still one of the fair to year to date, with only 10 % decrease so far.
This is similar to Bitcoin, which was 9.56 % decreased and was much better than the other major Altcoins, such as ETH, which had a 52 % decrease, and Sol, which was 28 % decrease.
Stablecoins and Bitcoin still dominant in user portfolios
Although many users express XRP, Stablecoins and Bitcoin remain the most detained assets in user portfolios. According to BITSO data, Bitcoin dominates user portfolios, constituting 49 % of the medium wallet in 2024.
However, this was a decrease from 57 % in 2023, mostly due to Mimokins, Tokins, and symbols that gain their emergence in the wallet. This is more likely that BTC is also no longer the most purchased encryption of users, as it decreased from 28 % in 2023 to 22 % in 2024.
In place, Circle usdc is now the most purchased currency purchased with 24 %, while Tether Usdt is the third by 15 %. The local stablecoins and Fiat Currency Holdings also grew due to several factors, including the return provided by Stablecoins, the low value of local currencies, and users who diversify their portfolios and take profits.
Evidence of encryption grows in Latam
Meanwhile, the BITSO report also noted an increase in encryption dependence throughout the region, using the data registered in the four countries where you work. In Argentina, its registered users increased by 11 %, while Mexico increased by 13 %. Brazil and Colombia have witnessed 6 % growth for each.
It was not surprising, most of the youth encoding was young. People between the ages of 25 and 34 are 38 % of users. This was followed by people between the ages of 18 and 24 and those between the ages of 35 and 44, with 23 % each. It seems that the greater the elderly, the less likely to use the encryption, with those who are 65 years old and above them have the lowest percentage, by 2 %.
Interestingly, the oldest age groups witnessed an increase in their trading activity. Users from 45 – 54 years have seen their trading increased from 13 % to 14 %, while this ranges from 55 – 64 also to 6 % from 5 %. However, 25 to 34 years are still active, with 34 % of trading activity though 3 % decrease.
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