He crypto dollar or Bitcoinwhich operates 24 hours a day every day of the year, is listed this Friday, two days before the elections, at $1,153.70. Thus, it becomes the most expensive exchange rate, since the Dolar blue It is stuck at $900, and the financial ones range between $990 and $950.
It should be remembered that the value of crypto dollar It offers a projection of the parallel exchange rate, so following its evolution is advisable given the context. Likewise, today it would seem to be the only dollar that would not be intervenedso its variation during the final stretch towards election Sunday could expose the blue’s path after October 22.
Savers are looking Various forms of investment to protect yourself from high inflation and volatility in the foreign exchange market. In this context, “digital dollars” have recently gained adoption 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. In addition, it demonstrated a high predisposition to invest in digital dollars given the growing devaluation and inflation in the country.
In particular, The study showed that 25.3% of respondents would be very willing to buy digital dollars if they had the capacity to save, and another 20.7% would be moderately inclined to do so. Only 15.8% expressed little willingnesswhile 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 seek coverage given the devaluation of the official dollar and the volatility of alternative exchange rates, which has driven demand for stablecoins. stablecoins, like USDT and USDChave become highly searched terms on the web by Argentines and have experienced 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 exchanged their cryptocurrencies for pesos. In many companies this operation surpassed the acquisition of assets by the public. The reason, according to experts, is to take advantage of another gap, since the crypto dollar is the most expensive exchange rate on the market, only ahead of the CCL.
Crypto dollar: everything about its price
It should be remembered that the crypto dollar It operates completely digitally, which allows it to be available 365 days a year, 24 hours a day.
Specifically, cryptocurrencies are purchased through virtual wallets. But They are not all cryptocurrencies, but only the so-called stablecoins (stable coins) whose value is tied to the US dollar.
For their part, the 3 most traded are Tether(USDT), USD Coin(USDC) and Dai(DAI).The parity is a DAI, a USDT or a USDC, whose value is equivalent to one dollar. Like 30 years ago, with convertibility, but instead of pesos, cryptocurrencies.
Regarding its transactions, since the purchase and sale of cryptocurrencies is outside the traditional exchange market, Quotes and operations are not suspended on weekends or holidays or after 3 p.m., when banks close: they are still available 24 hours a day, 7 days a week trading. That is to say, you can buy crypto dollars not only from Argentina but from anywhere in the world.
The crypto dollarnot being regulated, offers a more speculative and riskier option, but That is why it is no less attractive for those who want to move away from the formal market and enter a world of uncertainty, volatility and the prospect of profits without the intervention of outsiders.
And to understand, because this crypto dollar operates on weekends, It is enough to understand that cryptocurrency transactions are found by outside the traditional exchange market, Therefore, their quotes and operations are not suspended at any time of the day.
Source: Ambito
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