According to recent reports, Brazil’s Central Bank chief, Gabriel Galipolo, has announced a substantial increase in cryptocurrency usage in the nation over the past few years. Remarkably, stablecoins account for 90% of the country’s cryptocurrency volume. Galipolo also voiced concerns over potential tax evasion and money laundering associated with the burgeoning crypto usage.
Stablecoins, linked to tangible assets like fiat currencies or commodities, exhibit less volatility compared to altcoins. They serve as a digital counterpart to traditional currencies and facilitate smooth cross-border business transactions. Data from Chainalysis reveals that Brazilians invested approximately $90B in cryptocurrencies from July 2023 to June 2024. This figure is only outdone by Argentina, which invested $91B in the same period.
Moreover, the global transfer volume of stablecoins reached a staggering $27.6 trillion in 2024, outperforming the combined volumes of Visa and Mastercard. The worldwide market cap of stablecoins crossed the $200B threshold, marking a $37B increase since the pro-crypto Trump took office as the US President.
A surge in stablecoin volume suggests a liquidity increase in crypto markets, hinting at a potential bullish rally led by stablecoins. 2024 witnessed a 500% growth in the meme coin market, from $20B to $120B, outpacing all other crypto classes. Successful meme coins like Dogecoin currently have a market cap exceeding $36B.
As the crypto market moves towards stablecoins and altcoins, the demand for a trustworthy crypto wallet is escalating. This is where the Best Wallet Token ($BEST) enters the picture.
$BEST, the native token of the widely popular Best Wallet App, offers a decentralized, non-custodial crypto wallet that supports more than 60 crypto chains. It facilitates buying, selling, swapping, and tracking all your crypto assets in one place. The $BEST token amplifies the app’s benefits, providing early access to all upcoming alpha tokens, lower transaction fees, and bypassing lengthy KYC processes.
Best Wallet aims to secure 40% of the non-custodial crypto wallet market by 2026, which could generate a massive $4B revenue for the company. With over 250,000 active monthly users and a user base growth rate of 96.3%, Best Wallet Token ($BEST) managed to raise $1M within 14 days of its presale launch. The token has so far raised $9.3M and is rapidly approaching the $10M mark.
Developers have ambitious plans for Best Wallet’s future, such as full Solana compatibility and the Best Card’s introduction for seamless crypto payments. However, always conduct thorough research before investing in crypto assets due to their inherent volatility.
