Latin America’s (LATAM) centralized crypto exchanges have grown from area of interest platforms into important monetary infrastructure in simply three years, with flows rising ninefold, in accordance with new analysis.
Dune Analysis’s LATAM Report revealed that 2021 annual alternate flows within the area totalled $3 billion. In 2024, the entire alternate flows for LATAM reached $27 billion, up by 800% in simply three years, signaling digital asset development within the area.
In its early years, LATAM crypto exercise was modest by world requirements. Nonetheless, a fragmented ecosystem of small brokers and over-the-counter (OTC) desks grew into bigger, built-in exchanges serving retail and institutional purchasers.
In line with Dune Analytics, flows from early 2021 to mid-2025 by LATAM-based centralized alternate platforms confirmed a transparent arc of “development maturity and consolidation.”
Centralized crypto alternate flows in Latin America. Supply: Dune
Bitso stays probably the most dominant LATAM alternate by flows
Since 2021, crypto alternate Bitso has dominated the Latin American market. On the time, the alternate processed over $2 billion in flows, over 66% of all of the flows within the area.
In 2024, the alternate processed over $25.2 billion in flows, a 1,160% development in three years. Its share of alternate flows grew to 93% throughout the identical time interval.
Except for Bitso, gamers like Mercado Bitcoin and Lemon Money additionally noticed elevated alternate flows. The Dune report additionally highlighted that the stream improve occurred with out a sustained bull run.
“Crucially, this development got here with out a sustained bull market, reflecting a shift towards real-world utility similar to cross-border commerce, remittance settlements, and forex hedging,” Dune stated.
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Ethereum accounted for over $45.5 billion in general 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 when it comes to 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 biggest 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 whole flows, whereas Polygon follows with $1.17 billion.
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