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According to data released by the Federal Revenue Service, in addition to the leading crypto assets in the market, such as bitcoin and ether, the BRZ is among Brazilians’ most traded digital assets.

The data, compiled by the IRS at the end of May, show that even with the entry of several new national and international players in the industry, the number of transactions with crypto assets fell 66% in May this year compared to the same period last year.

In the same month in 2022, just over 2 million transactions were recorded, while in May last year, they exceeded the 6 million mark.

The report shows that Brazilian investors are already more open to opportunities in the crypto market. For example, transactions involving 56 different crypto assets were recorded in May alone. In all, more than 2 million transactions were reported by 374,609 individuals and legal entities – 364,457 Individual Taxpayer Identification Numbers (ITIN) and 10,152 Employer Identification Numbers (EIN).

BRZ in the Top 10

Although the first crypto asset on the list is bitcoin, the report shows that 32,174 operations were carried out with BRZ in the period analyzed, adding up to almost R$500 million in traded volume.

In the same period last year, there were 57,111 transactions, which moved about R$ 760 million.

The other currencies recorded by the IRS, besides bitcoin (BTC), ethereum (ETH), and BRZ, were Theter (stablecoin pegged to the dollar), XRP (Ripple), Cardano (ADA), Litecoin (LTC), Dogecoin (DOGE), Solana (SOL) and Chiliz (CHZ).

It is worth noting that the survey showed that after a period of decline, there was a record increase in reported values in crypto trading in May.

In the month alone, a record amount of R$ 15.3 million was declared in trades involving crypto assets, representing an increase of about 12% compared to January this year and 30% to April.