This is the first reaction of savers to the departure of Martín Guzmán from the Ministry of Economy. The crypto market anticipates a day of financial turbulence for Monday when the informal exchange market opens. A point in favor is the holiday in the US that will give you at least one more day of respite since you will move without references.
What is the crypto dollar
The exchange restrictions that govern Argentina triggered alternative tools to dollarize without buying the official dollar through the free and single exchange market. One of the options is to operate through the Stock Exchange with the so-called “MEP dollar” but in the country the possibility of doing it through the cryptocurrencies. The price, both in pesos and in foreign currency, is set by supply and demand.
As in the MEP dollar, the implicit exchange rate arises from the relationship between the sale value in dollars and the purchase price in pesos, plus transaction costs. In general, the quotation is a value between Dolar blue and the cash with liquidation (the one used to take dollars abroad).
As it is not a direct purchase of dollars, but of a dollarized asset, the operation is not restricted.
Unlike the popular “altcoins”, such as Bitcoin or Ethereum, in which the value lies in the loyalty of its cryptocurrency community, “stablecoins” are associated with the value of a “fiat” currency, such as the dollar or the euro. , to material goods, such as gold or oil and even to another cryptocurrency.
There are also stablecoins that are controlled by algorithms to keep their price stable. In any case, they are attractive to take refuge in times of financial uncertainty. The four most recognized stablecoins in trading volume are DAI, USDT, USDC and BUSD.
Source: Ambito
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