Market
Top Crypto News From Latin America
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BeInCrypto comprehensive Latam Crypto Roundup brings Latin America’s most important news and trends. With reporters in Brazil, Mexico, Argentina, and more, we cover the latest updates and insights from the region’s crypto scene.
This week’s roundup includes stories about El Salvador’s Bitcoin adoption anniversary, the Cardano Foundation’s alliance with the Entre Rios province of Argentina, and more.
El Salvador Celebrates 3 Years of Bitcoin Adoption
In June 2021, El Salvador’s President Nayib Bukele announced plans to adopt Bitcoin as legal tender. On September 7, the country officially became the first in the world to enact the “Bitcoin Law,” making BTC a legal currency.
Currently, El Salvador remains the only nation where Bitcoin is legal tender. Over the past three years, the value of Bitcoin has fluctuated significantly, dropping to $16,464 by the end of 2022 after reaching an all-time high of $73,079 in March.
Since adopting Bitcoin, El Salvador has accumulated 5,772.76 BTC worth $411 million. Additionally, President Bukele won re-election for a second term, continuing to lead the country.
Read more: Who Owns the Most Bitcoin in 2024?
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Paraguayan Congresswoman Proposes a Bill to Regulate Bitcoin Mining
Paraguayan Deputy María Constancia Benítez de Benítez introduced a bill to regulate Bitcoin mining in Paraguay. Titled “That regulates cryptomining in the Republic of Paraguay,” the proposal aims to create a secure legal and economic environment for cryptocurrency mining.
Benítez highlighted that mining could boost the country’s economic development. The bill highlights that Paraguay can harness its substantial hydroelectric energy production capacity for mining operations.
The bill has been presented to the Chamber of Deputies. Several committees, including those on economic and financial affairs, legislation and codification, industry, commerce and tourism, budget, drug trafficking prevention, science and technology, and energy and mining, will now review it.
Read more: Is Crypto Mining Profitable in 2024?
Latam Trading Platform BTR Shutdown as Users Allege Ponzi Scheme
The BTR crypto trading platform has allegedly ceased operations, sparking accusations from its users of an exit scam. What was initially seen as a temporary glitch has quickly escalated into a significant scandal.
Investors from Venezuela and other parts of Latin America had entrusted substantial sums of money to the BTR platform. Now, they find themselves in a precarious situation.
Many were drawn by promises of high returns and the perceived stability of the project. However, the lack of transparency and evasive responses from BTR’s administrators have fueled suspicions of a deliberate exit scam.
“#BTR the pyramid scheme has fallen. Its users report that there is no longer access to the website, there are no withdrawals, there are no official announcements from its CEO,” pseudonymous trader from Venezuela said.
Read more: 15 Most Common Crypto Scams To Look Out For
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Bitcoin Embassy Bar in Mexico Closes in July, Leaves Crypto Networking Legacy
The Bitcoin Embassy Bar, a central hub for blockchain projects and Bitcoin initiatives, will close its doors at the end of July. This venue has been an ideal space for the crypto community in Mexico to network and collaborate.
Lorena Ortiz, the bar’s founder, announced on social media that the closure is due to health issues she faced earlier this year. However, she emphasized that while the physical location is closing, the “Bitcoin Embassy Bar” concept remains alive.
The community reacted swiftly, praising the bar’s efforts to educate people about cryptocurrency. Many expressed their appreciation for their experiences as consumers and exhibitors at the venue. Others encouraged the continuation of the project, optimistic that the business aspect and concept could be revived.
Read more: Best Crypto Community To Join for Beginners
Cardano Foundation Seals Alliance with Entre Rios Province of Argentina
The Cardano Foundation, a non-profit organization dedicated to promoting and developing the Cardano blockchain, has allied with the Entre Ríos province of Argentina. The agreement, signed at the Entre Ríos House in Buenos Aires, marks a milestone in their collaboration, which began with the Cardano Foundation delegation’s visit to the province in March.
Entre Ríos has been selected as a key jurisdiction to lead the adoption of blockchain technologies in the region. The agreement includes plans to advance digital identity solutions in the initial phase and facilitate access to Web3 knowledge. This joint initiative represents a significant effort to modernize and digitize processes in Entre Ríos, using decentralized technology as a foundation.
Read more: Who Is Charles Hoskinson, the Founder of Cardano?
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Strike CEO Jack Mallers Seeks to Increase Investment in El Salvador
Jack Mallers, CEO of the payment platform Strike, announced plans to boost investment in El Salvador. Last year, Strike moved its headquarters to El Salvador and expanded Bitcoin payments to 65 countries.
Mallers noted El Salvador’s improvements and expressed the company’s intention to support more local projects and enhance the country’s crypto ecosystem, stating, “Chicago does not change as much as El Salvador changes.”
He emphasized that investing in El Salvador is a “good investment” in any area, whether technology or land. Strike is licensed as a digital asset provider and receives government support for its products and services.
“This country has been great. To come back and see all the changes is amazing. We see El Salvador improving and want to invest more to support and bring benefits here,” Mallers said.
Read more: A Guide to Crypto Payrolls: Exploring Salary Payments in Web3
As the Latin American crypto scene grows, these stories highlight the region’s increasing influence in the global market. From El Salvador’s bursting Bitcoin economy to Argentina’s new partnerships, LATAM is positioning itself as a key player in the tech world. Stay tuned for more updates and insights in next week’s roundup.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
iDEGEN finishes the presale race with hype as investors fear missing out
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- Solana will likely remain under pressure in the near term despite the steady fundamentals.
- iDEGEN is ending its presale with the same hype that has carried it through the presale as investors fear missing out.
- Even with the likely approval of a Litecoin ETF, the bulls lack enough momentum to fuel a breakout
Crypto bulls remain in control amid optimism of a 2025 bull run. However, with a neutral market sentiment, most crypto majors have been range-bound in the just concluded week. Even so, meme coins continue to attract savvy investors looking for cheaper alternatives with robust growth potential.
Since the launch of its presale on 26th November 2024, iDEGEN has taken its enthusiasts on a wild ride; raking in hefty returns for its early adopters along the way. With just a few days left before its listing on decentralized exchanges (DEXs), market participants forecast an explosive entry. As such, more investors are rushing to amass $IDGN tokens before time runs out.
Solana price stuck between the battle of optimism vs. technicals
Solana price has continued to find support in the optimism of a bull run in 2025. Besides, the surge in altcoin ETFS’ filings is a key tailwind for the crypto major.
Even so, buyers are still on the sidelines as the market sentiment remains neutral. With this low bullish momentum, Solana price failed to sustain a rebound past $180 earlier in the week.
A look at its daily chart shows the continuation of the death cross pattern as the short-term 25-day EMA remains below the 50-day MA. At its current level, the bulls are keen on defending the support at $$167.68. Below that level, the bears will be looking to pull it further to $160.10. On the upper side, $186.21 is still the resistance level to beat if the crypto is to stage a successful breakout.
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iDEGEN’s timing, community, and positioning sets it for unmatched heights
iDEGEN’s virality and success is proof that the market is ripe for projects that defy the norms. Indeed, the absence of guardrails is one of the factors that have catapulted the AI crypto to its current levels.
Crypto degens have been responsible for raising the AI agent, steadily feeding it with uncensored content. This community has become so committed and influential that not even the bans on X could stop the movement In fact, it only fueled the FOMO.
As a result, iDEGEN has raised over $24 million with more than 1.8 million $IDGN tokens already sold. At its current price of $0.0345, the early adopters are sitting on returns of over 31,000% even before it hits the public shelves.
Based on its infrastructure, timing, and virality, iDEGEN has robust growth potential. Whether or not the heightened speculations of a Binance listing will materialize, the crypto is set for great heights on the back of a crypto-friendly environment, an engaged community, and the positioning of AI in the crypto space.
Besides, its rivals like Hamster Kombat, AI16z, and Fartcoin, which were launched in October 2024, have since seen their market cap exceed $100 million. In fact, AI16z is currently valued at over $400,000. With this immense validation of AI cryptos, iDEGEN’s value will likely surge by at least 10X in coming months. Read more on how to buy the iDEGEN token here.
Optimism over a Litecoin ETF not enough to yield a breakout
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SEC is already reviewing Canary Capital’s proposal of a Litecoin ETF; an aspect that is offering support to the altcoin. On its daily chart, it continues to trade above the 25 and 50-day EMAs; pointing to further gains in the near term.
However, with buyers on the sidelines, Litecoin price may remain range-bound for a while longer. More specifically, the range between $120.25 and $131.25 is worth watching. Heightened optimism may further boost the altcoin to find resistance at $135.12.
Market
3 Meme Coins to Watch For The Last Week of February 2025
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DOGEai, TST, and BROCCOLI are three meme coins drawing attention for the last week of February. DOGEai, launched on Solana, is up 110% in the past seven days, positioning itself as a leading AI meme coin.
TST remains one of the most popular meme coins on the BNB chain despite a recent correction. At the same time, BROCCOLI, inspired by Binance co-founder CZ’s dog, has also seen significant volatility.
DOGEai (DOGEAI)
DOGEai is an artificial intelligence coin launched on Solana. Its market cap is now $32 million, up 82% in the last seven days. This rise has positioned DOGEai as one of the most talked-about AI meme coins in recent days.
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DOGEai leverages multiple narratives, including Dogecoin’s popularity, the growing interest in DOGE (Department of Government Efficiency), and the broader AI cryptos trend. It defines itself as “an autonomous AI agent here to uncover waste and inefficiencies in government spending and policy decisions,” offering bill summaries and insights into government expenditures.
If the current uptrend continues, DOGEai could test the resistance at $0.048, with potential targets at $0.059 and $0.069. However, if a downtrend emerges, DOGEai has support at $0.030, and if that level is lost, it could drop to $0.018 or even $0.0092.
Test (TST)
TST has emerged as one of the most popular meme coins on the BNB chain, benefiting from the chain’s growing volume, which recently even surpassed Solana.
In the days following its launch, TST reached a market cap close to $500 million, then entered a strong correction phase. Its market cap has since dropped to $78 million.
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If the BNB narrative gains strength again, TST could benefit as one of its most popular meme coins and may test the resistance at $0.10. A breakout above this level could push TST to $0.20 or even $0.25 if buying pressure intensifies.
However, if TST fails to regain strong upward momentum, it could test the support at $0.0719 and potentially drop to its lowest levels since February 9.
CZ’S Dog (BROCCOLI)
BROCCOLI was launched a few weeks ago after Binance co-founder CZ revealed his dog’s name, sparking a flood of BROCCOLI tokens on the market.
The largest of these tokens quickly surged to a $249 million market cap in its early days but has since dropped to $52 million.
Like TST, BROCCOLI benefited from the recent rise of the BNB ecosystem but has since entered a strong correction phase. It is down 40% in the last seven days.
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If the downtrend continues, BROCCOLI could test support near $0.04, and a break below this level could push it to its lowest price since launch.
However, if the BNB ecosystem and meme coins regain traction, BROCCOLI could benefit, especially given the popularity of dog-related meme coins like Dogecoin and Shiba Inu. In this bullish scenario, BROCCOLI could rise to test the resistance at $0.113.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
Ethereum Rollback Debate Intensifies After Bybit Hack
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The crypto community is divided over calls for an Ethereum blockchain rollback following a massive security breach at Bybit.
On February 21, the exchange lost nearly $1.5 billion in ETH to hackers, sparking discussions about whether Ethereum should intervene to recover the stolen funds.
What is a Blockchain Rollback?
A blockchain rollback, also known as a reorganization, involves reversing confirmed transactions to restore the network to an earlier state.
This process usually happens after a major security breach or exploit. Validators must reach a consensus to discard the affected blocks, effectively erasing the malicious transactions.
Despite its potential benefits, a rollback remains a controversial and rarely used measure due to its impact on a blockchain’s trust and decentralization.
Blockchains operate on the principle of immutability, meaning transactions are expected to be final once confirmed. So, rolling back transactions challenges this principle, raising concerns about the security and reliability of the network.
Crypto Leaders Clash Over Ethereum Rollback Proposal
BitMEX co-founder Arthur Hayes has been vocal in advocating for a rollback to solve the ByBit hack. He pointed to the 2016 DAO hack, where Ethereum underwent a hard fork to recover stolen funds, as precedent.
Hayes argued that since Ethereum previously compromised on immutability, another intervention should not be off the table.
“My own view as a mega ETH bag holder is ETH stopped being money in 2016 after the DAO hack hardfork. If the community wanted to do it again, I would support it because we already voted no on immutability in 2016,” Hayes said.
JAN3 CEO Samson Mow also supported the rollback, stating it could prevent North Korea from using the stolen funds to fund its nuclear weapons program.
However, not everyone agrees. Pseudonymous crypto trader Borovik strongly opposed the idea, arguing that a rollback would jeopardize Ethereum’s credibility and neutrality.
Bitcoin advocate Jimmy Song also dismissed the possibility, stating that the Bybit hack cannot be compared to the 2016 DAO exploit. Song emphasized that the DAO hack allowed for a 30-day intervention, whereas the Bybit attack is already finalized, making a rollback impractical.
“I know people are expecting the Ethereum Foundation to roll back the chain, but I suspect it’s already too much of a mess to do it cleanly,” Song added.
Meanwhile, Ethereum supporter Adriano Feria introduced an alternative perspective. He argued that Bybit could have avoided this situation by using a Layer 2 (L2) solution with conditional reversible transactions.
According to Feria, blockchain technology needs some form of reversibility to ensure real-world adoption.
“Whether through social recovery or another pre-determined, immutable, and transparent decision-making process, real-world mass adoption will not work without reversible transactions. Without this capability, transactional activity will inevitably gravitate toward TradFi systems that already provide it,” Feria stated.
This debate raises a fundamental question for Ethereum: should it prioritize immutability or intervene in extreme cases?
While some see a rollback as a necessary response to an unprecedented loss, others fear it could undermine the core principles of decentralization. Ethereum’s next steps will likely shape its long-term credibility and trust within the crypto space.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
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