Latin America’s (LATAM) centralized crypto exchanges have grown from area of interest platforms into crucial monetary infrastructure in simply three years, with flows rising ninefold, in accordance with new analysis.
Dune Analysis’s LATAM Report revealed that 2021 annual change flows within the area totalled $3 billion. In 2024, the full change flows for LATAM reached $27 billion, up by 800% in simply three years, signaling digital asset progress within the area.
In its early years, LATAM crypto exercise was modest by world requirements. Nevertheless, a fragmented ecosystem of small brokers and over-the-counter (OTC) desks grew into bigger, built-in exchanges serving retail and institutional shoppers.
In response to Dune Analytics, flows from early 2021 to mid-2025 by means of LATAM-based centralized change platforms confirmed a transparent arc of “progress maturity and consolidation.”
Bitso stays essentially the most dominant LATAM change by flows
Since 2021, crypto change Bitso has dominated the Latin American market. On the time, the change processed over $2 billion in flows, over 66% of all of the flows within the area.
In 2024, the change processed over $25.2 billion in flows, a 1,160% progress in three years. Its share of change flows grew to 93% throughout the identical time interval.
Apart from Bitso, gamers like Mercado Bitcoin and Lemon Money additionally noticed elevated change flows. The Dune report additionally highlighted that the circulate improve occurred with out a sustained bull run.
“Crucially, this progress got here with out a sustained bull market, reflecting a shift towards real-world utility equivalent to cross-border commerce, remittance settlements, and foreign money hedging,” Dune stated.
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Ethereum accounted for over $45.5 billion in total flows since 2021
The report additionally revealed that Ethereum-based transfers dominated the market. From January 2021 to July 2025, community transfers have reached over $45.5 billion. This quantity is roughly 75% of all recorded flows all through the interval.
The report stated that Tron ranked second by way of transfers, with over $12.5 billion. The report stated this was largely pushed by low-cost Tether (USDT) transfers within the community.
As of Tuesday, Tron holds the most important quantity of USDT, with $81.8 billion in tokens circulating on the community, in accordance with Tether. Ethereum follows with $80.3 billion.
Solana ranks third in LATAM with $1.45 billion in complete flows, whereas Polygon follows with $1.17 billion.
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