USDT volume on MB jumped nearly 800% and bitcoin 865% from the previous Sunday; Binance’s USDT/BRL market rose 251% while its global BTC/USDT pair fell.
USDT trading volume on Mercado Bitcoin increased by 800% on Brazilian election day; companies turned to stablecoins to protect the real ahead of Lula's victory.
The corporate reaction to the election result in Brazil was reflected in a leap in operations with USDT, USDC and Bitcoin, just as the real and the stock market faced sharp falls. Data from Bitcoin Market and local platforms show a search for coverage that was mainly corporate.