This Wednesday, the Dolar blue reached a new historical record by touching the $840which generated an impact on the prices of exchange rates, as is the case of the crypto dollar or Bitcoin, which promote fintech companies. This Thursday, the crypto dollar is already trading at $900.10.
In this context it is the crypto dollar which represents the value at which the Argentine peso is valued in the country’s main exchanges, reached close to $900thus marking its highest historical mark.
Given the explosion of financial dollarsan increase of up to fifty% in the purchase and sale of digital currenciess compared to a normal day. This significant increase in activity was attributed to the financial outlook and the uncertainty generated by the Dolar blue.
Savers in Argentina are looking for various forms of investment to protect themselves from high inflation and volatility in the exchange market. In this context, “digital dollars” have gained adoption in recent times as an attractive alternative.
Crypto Dollar: fever for stablecoins
A study carried out by the Bitso firm in collaboration with Synopsis Consultores revealed a growth in knowledge about cryptocurrencies among Argentines in the last month. Furthermore, he demonstrated a high willingness to invest in digital dollars given the growing devaluation and inflation in the country.
In particular, the study showed that 25.3% of those surveyed would be very willing to buy digital dollars if they had the ability to save, and another 20.7% would be moderately inclined to do so. Only 15.8% expressed little willingness, while 21.7% would not evaluate it as an option.
Bitso, a cryptocurrency platform, reported that the average traded volume of these currencies practically tripled in Argentina days after the primary elections. The “crypto dollar” continues to grow rapidly and is presented as a viable alternative for countries facing exchange rate uncertainty and economic challenges, such as inflation and the devaluation of local currencies.
Savers are seeking coverage from the devaluation of the official dollar and the volatility of alternative exchange rates, which has driven demand for stable cryptocurrencies. Stablecoins, such as USDT and USDC, have become highly searched terms on the web by Argentines and have seen an increase in transactions.
The political and economic scenario, together with the strategies of savers, have generated a favorable context for the growing adoption of digital dollarsdemonstrating how Argentines are looking for solid alternatives to the fluctuations and devaluation of the local currency.
What is really new this time is that, in addition to acquiring stablecoins, savers also They exchanged their cryptocurrencies for pesos. In many companies this operation exceeded the acquisition of assets by the public. The reason, according to experts, is to take advantage of another gap, since the crypto dollar It is the most expensive exchange rate on the marketonly ahead of the CCL-
The loop consists of selling the crypto dollar at 850, while the MEP is bought at $750/$760. A curler that can leave more than 10% per dollar.
Source: Ambito
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