During the month of May, the price of Bitcoin (BTC) dropped about 21% in its quotation in reais. However, this did not stop Brazilians from increasing their digital currency trading in the period. With respect to the month of April, the volume of BTC traded in May grew by 52.51%. This volume already represents 50% of B3’s total volume.
Bitcoin movement in Brazil
According to the Cointrader Monitor (CTM) report – which gathers data from digital asset exchanges operating in Brazil – Brazilians moved 33,673.53 Bitcoins from May 1st to 31st. In reais, this volume is equivalent to approximately R$5.3 billion. By way of comparison, in the month of April, 22,079.97 Bitcoin were moved. Meanwhile, the volume of Reais needed to carry out the May BTC movement changed by 20.15% in a positive way. In relation to May 2021, the volume of BTC in May this year decreased by 35.98%. That’s because that month’s volume was 52,595 Bitcoins. In addition, the volume of Reais needed to move the amount of BTC in May 2022 was 57.53% lower than in May 2021. As mentioned, BTC changed negatively in the last month. On the first of May, the value of Bitcoin was around BRL 192,410. And, on the 31st, the price dropped to R$ 151,507.
Bitcoin price change in May 2022. Source: Cointrader Monitor This Thursday (2/6), the price of Bitcoin registers a slight decrease in relation to the price that closed the month of May. At the time of writing this article, the largest cryptocurrency on the market is trading at BRL 144,462, according to CTM. In the last 24 hours, the price of BTC has dropped by around 4%. .
Binance continues to lead in Bitcoin volume
For its monthly survey, the site collected data from APIs provided by 35 exchanges. Brokers consulted include: Binance, Mercado Bitcoin, BitcoinToYou, BitcoinTrade, FTX, BitPreço and Alter. As the CTM report highlighted, the crypto platform with the highest volume of BTC traded in May was, once again, Binance. In fact, the Changpeng Zhao (CZ)-led cryptocurrency exchange has been leading BTC trading in Brazil for over a year. This May, Binance traded 17,451.07 Bitcoins. In percentage terms, this equates to 51.82% of all Bitcoin transactions in Brazil. With this volume, Binance once again achieved the highest monthly share of an exchange ever recorded by Cointrader Monitor. After all, the exchange had already broken the trading volume share record in March and April. After Binance, in terms of volume traded in April, is BitPreço having traded 15.52% of Bitcoins in the month of May.
Exchange chart. Source: Cointrader Monitor The CTM report also highlighted that, in the month of May, the day that registered the biggest Bitcoin movement was the 12th. million) were traded. On the other hand, the day with the least movement was May 29, when 338.38 BTC (R$ 47,501,173.57) was moved. Also read: Brazilian exchanges move BRL 9.7 billion in Bitcoin in April Also read: B3 is authorized by the CVM to launch a digital asset company