The demand for the dollar continues and is reflected in the main exchanges while the traditional caves do not operate. At the start of the year, the market looks to crypto as a reference.
He blue dollar It did not stop rising in the last days of December and climbed no less than $110 in the month. Passage of a price of $1,120 to $1,230 at the close of the year and the market looks askance at how it will continue in this new year. Since January 1st is a holiday, the reference you have to anticipate what will come for that exchange rate is the crypto dollar, a thermometer of the parallel when traditional caves sleep.
It is worth mentioning that The main reason for this increase is seasonal: The second half of December and the first half of January are usually bullish due to the injection of liquidity that implies the collection of Christmas bonuses and year-end bonuses and the purchase of foreign currency for trips abroad. But The recent reduction in the monetary policy rate also has a strong impact this time that the Central Bank (BCRA) ordered, which cut yields in pesos and limits the carry trade.
In that context, the Virtual caves anticipate a slight movement in value above the close of the blue on January 30, which was $1,230. In Bitso is at $1,231.7.
This price corresponds to operations carried out on digital exchange platforms that work with stablecoins, known in Argentina as “crypto dollar.” These cryptocurrencies are specifically designed to reduce volatility, linking to more solid assets such as precious metals, natural resources or fiat currencies such as the dollar or euro.
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In Argentina, the most used stablecoins are those that maintain a 1 to 1 parity with the dollarwhich makes them a practical and accessible digital option for those looking to dollarize their savings.
Many Argentines consider that the stablecoin quotes are a thermometer to follow, given that it anticipates future movements in the exchange rate, especially the blue dollarin the country.
How to buy crypto dollar
USDT is the most demanded and traded stablecoin worldwide, far surpassing the transaction volume of Bitcoin and Ethereum. Furthermore, it represents a cheaper alternative for access the dollar at any time of the day, without the restrictions of the exchange rate.
To acquire crypto dollars, users have two main options: the first is through a centralized exchange, where the price is determined by the platform; the second, through a peer-to-peer (P2P) exchange, where two investors directly agree on the price of the transaction.
Source: Ambito
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