According to data issued by the national tax enforcer, the adoption of solana and ether is growing in Brazilian markets. Ether’s utilization increased significantly, having registered 950,000 transactions moving over $165 million – a relevant increase compared to last year’s October numbers, when it scored 600,000 transactions and transferred nearly $40 million. Solana also exploded, going from 223,000 transactions with a turnover of $9.43 million to 443,000 transactions funneling close to $84 million. Nonetheless, the Brazilian crypto market is still dominated by dollar-pegged stablecoins like Tether’s USDT and USDC, which helped haul $2.64 billion, 70% of all the volume transacted during October in Brazil.
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