He crypto dollarthe “exchange rate that never sleeps”, gains prominence in each electoral process. And in these legislative elections it was no exception: It has already begun to show movement after the closing of the voting stations.
The digital currency It operates with a decrease of 0.9% in the last 24 hours and is located near $1,587 on average, according to the price of the main exchangesaccording to the Coinmonitor site.
“On election days, the crypto dollar is usually the first thermometer because it operates 24/7 and quickly reflects changes in expectations. We expect greater variance and somewhat wider spreads, especially this Sunday night with the results,” explained Andrés Vilella Weisz, Head of Treasury and Markets at Lemon. “The focus will be on the balance of purchase/sale flows, which can be followed on our public landing page of the Crypto Pulse, with real-time data from the crypto platform with the highest retail volume in Argentina and with information that no one else publishes,” Vilella Weisz added.
Let us remember that last Friday The official dollar overheated and touched the ceiling of the band in the last round before the electionsin a context marked by uncertainty about the future of the economic program, and with strong intervention by the US Treasury, which is estimated to have purchased pesos for the equivalent of about US$2.1 billion in the last two weeks. The exchange rate advanced $13 in the wholesale segment ($42 weekly) $1,492 and It closed just $0.5 from the ceiling of the float band, set at $1,492.5. The volume operated in the cash segment was US$752,116 million.
At the retail level, the dollar closed at $1,463.37 for purchase and $1,517.53 for sale in the average of financial entities prepared by the Central Bank (BCRA). In it Banco Nación (BNA) went up $10 to $1,465 for the purchase and $1,515 for sale. Thus, the dollar card or touristequivalent to the official retail dollar plus a 30% surcharge deductible from Income Tax, was located at $1,969.5.
Among the parallels, the dollar blue remained stable $1,525 for saleaccording to a survey of Scope in the caves of the city. For his part, the MEP dollar rose 1% to $1,549.44 and the gap against the wholesaler is 3.9%. Meanwhile, the Dollar Cash with Settlement (CCL) rose 1% to $1,567.21with a spread of 5% compared to the official price.
What is the crypto dollar and how it works
He crypto dollar It is the exchange rate that arises from the purchase and sale of stablecoinscryptocurrencies designed to maintain parity with the US dollar (such as USDT –Tether–, USDC –USD Coin– either DAI).
In practice, users buy these digital currencies with pesos on platforms or virtual wallets, so their price reflects how many pesos are needed to access a digital dollar. Thus, the value of the crypto dollar arises from free play between supply and demandwithout official intervention.
Unlike other exchange rates (official, MEP or blue), the crypto dollar operates 24 hours a day, seven days a weekeven on weekends or holidays. That is why it is known as “the dollar that never sleeps”and usually anticipates the movements of other markets, especially in contexts of political or electoral uncertainty.
The crypto dollar continues to grow in Argentina
The crypto dollar phenomenon is consolidated in the country. According to the latest Bitso report, during the first half of 2025 stablecoins represented 16% of the average wallets of Argentine users, compared to 12% in Colombia and 8% in Brazil. Furthermore, in the same period, 85% of local cryptocurrency purchases were concentrated in USDT (78%) and USDC (7%).
“The interest in the crypto dollar reflects the preference of Argentines for instruments tied to the greenback as a refuge of value, in a context of devaluation expectations”explains the report.
Source: Ambito
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