According to Foresight News, data from the Brazilian Federal Revenue Service reveals that the country's cryptocurrency trading volume in July was BRL 18.8 billion (approximately USD 3.7 billion), a decrease of 11.4% compared to the previous month. The top three traded cryptocurrencies were all stablecoins, with USDT accounting for BRL 15.3 billion, or 81.6% of the total trading volume. The second highest trading volume was for USDC, at BRL 838 million, followed by BRZ, a stablecoin pegged to the Brazilian real, with a trading volume of BRL 838 million in July.