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Crypto trading in Brazil spikes sharply amid election and real's sharp drop against dollar.

Market News
28 Oct 2026, 06:23 WIB
Tokenpost
View Source
Neutral
Crypto trading in Brazil spikes sharply amid election and real's sharp drop against dollar.

On Brazil's election day, crypto trading surged dramatically, with corporate accounts driving 78% of Mercado Bitcoin's volume. Tether (USDT) trading jumped nearly 800%, and Bitcoin (BTC) volume rose 865% compared to the previous Sunday. The Brazilian real weakened sharply, losing over 8% against the dollar—the biggest daily drop since 1999—while the Ibovespa stock index fell 14%. The combined trading volume of USDT and USDC reached about $350 million on October 26, up 65% from the prior week, reflecting heightened market volatility and investor activity amid political uncertainty.

The surge in corporate crypto trading during Brazil's election provides context for Pluang's market snapshot. As of Oct 28, 2026 09:41 WIB, 38 of 50 major cryptocurrencies on Pluang rose while 10 fell. Notable movers include SNX at Rp3.657 (+2.96%, 0% Sell / 100% Buy), CAKE at Rp38.100 (-2.55%, 29% Sell / 71% Buy), and DOGE at Rp1.439 (+2.42%, 19% Sell / 81% Buy).

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