Gabriel Galipolo, Brazil’s Central Bank chief, said in a recent event that the use of crypto has surged in the country during the last two or three years. Interestingly, 90% of the country’s crypto volume is linked to stablecoins.
Galipolo also expressed concerns regarding taxation and money laundering that come with the excessive use of crypto.
Stablecoins are tied to real-world assets such as fiat currencies or commodities and hence are less volatile than altcoins.
They act as a like-to-like alternative to paper currencies and have allowed businesses to make easy cross-border payments.
As per Chainalysis, Brazilians deposited around $90B in digital assets between July 2023 and June 2024 (12 months). This was only behind Argentina in Latin America, which deposited $91B during the same time.
The global volume of stablecoin transfers also reached $27.6 trillion in 2024, which surpassed the volumes of Visa and Mastercard combined.
Stablecoin Market Cap Surpasses $200 Billion
The global stablecoin market capitalization crossed $200B – an increase of $37B since the appointment of the pro-crypto Trump as the new President of the US. USDT deposits have surged to $43B – up 41% in the last 3 months.
A rise in stablecoin volume indicates increasing liquidity in the crypto markets, which is always a positive sign for an upcoming crypto (and Bitcoin) rally. Experts believe the upcoming bull run may be led by stablecoins.
It’s also worth noting that ever since Trump became the president, there has been a massive surge in meme coin activity.
He launched his own token called $TRUMP, which quickly rose to $75, generating mind-boggling gains for early investors. It’s now the fourth biggest crypto in the world in terms of market cap.
With an influx of new traders into crypto, plus the market moving towards stablecoins and altcoins, the need for a reliable crypto wallet has never been higher. This is where Best Wallet Token ($BEST) comes in.
What Is Best Wallet Token?
$BEST is the in-house token of the insanely popular Best Wallet App – a decentralized, non-custodial crypto wallet that provides you access to more than 60 crypto chains. This allows you to buy, sell, swap, and track all your crypto holdings in one place.
Now, the $BEST token is the Best Wallet App on steroids, seeing as it unlocks a lot of benefits for token holders within the Best Wallet ecosystem.
For instance, you get access to all upcoming alpha tokens much before they go on sale for the general public.
Plus, all of these tokens are vetted internally by the $BEST team so that you don’t accidentally end up losing money on scam websites.
You can find these tokens in the ‘Upcoming Tokens’ section of the app. By the way, this is the same feature that helped investors identify gems like $PEPU and $SLAP.
What’s more, $BEST token holders also benefit from lower transaction fees on the platform.
Furthermore, you don’t need to go through a tedious KYC process to start using the app. This saves you a lot of time and hassle and gets you started on your memecoin investment journey quickly.
Check out our detailed Best Wallet review for more info.
Why Can $BEST Be the Next 100x Meme Coin?
The Best Wallet App looks to capture 40% of the non-custodial crypto wallet market by the end of 2026. This translates into a huge $4B in revenue for the company.
Here are some more confidence-inspiring numbers for $BEST investors:
- Within just a few months of its launch, the app now has 250,000 active monthly users and over 500,000 users in total.
- The month-on-month user base growth sits at a massive 96.3%.
- The app installation growth was 658% since its launch in November.
All things considered, it was hardly a surprise that Best Wallet Token ($BEST) raised $1M within just 14 days of its presale’s launch.
It has, so far, raised $9.3M and is quickly heading towards the $10M mark.
More good news is that the developers have exciting plans for Best Wallet’s future. These include full Solana compatibility and the launch of Best Card for seamless crypto payments.
However, always do your own research before purchasing crypto assets, as they can be very volatile.
None of the above is financial advice, either, and you can consider consulting a professional financial advisor before investing your hard-earned money.