Mercado Libre go stop Mercado Coin and shift rewards to Meli Dólar
Mercado Libre go stop dia loyalty token wey dem dey call Mercado Coin. Dem give users deadline reach April 17 make dem redeem or spend di balances for di Mercado Pago app. Any Mercado Coin wey no use, dem go convert am to Brazilian reals, wey go create direct local supply/utility squeeze for Mercado Coin.
Di company never stop crypto rewards. Instead, dem dey shift di incentives to dia US-dollar stablecoin, Meli Dolar (MUSD). Customers fit use MUSD for everyday payments and peer-to-peer transfers, and Meli+ users fit earn cash back on MUSD purchases. Di move show say demand fit rotate from Mercado Coin go MUSD instead of commot.
Separate, Mercado Libre talk say dem still get 570.4 BTC for dia treasury, and dem dey provide crypto services through Mercado Pago for markets like Brazil, Mexico, and Chile.
For traders, wetin dem suppose note be say Mercado Coin dey face clear wind-down and possible sell-pressure from forced balance conversion, but bigger market impact go likely limited because Mercado Libre rails and stablecoin rewards still dey active.
Bearish
Mercado Coin dey face arranged sunset and forced redemption/expiry mechanics (dem go convert unused balances to Brazilian reals). Dat one normally dey put pressure for price through localized sell pressure and sharp drop for perceived utility for Mercado Coin holders.
But di wider impact fit dey contained. Mercado Libre dey redirect rewards to Meli Dolar (MUSD), we fit absorb part of user activity and reduce di chance of total loyalty-program demand collapse. Short term, traders fit see elevated volatility around di April 17 deadline; long term, Mercado Coin liquidity and incentive relevance go continue to deteriorate unless secondary market/community adoption show up.
So, di expected price impact on Mercado Coin itself na bearish, while di stablecoin transition fit shift flows rather than remove dem completely.