Argentines are flocking to purchase stablecoins to protect their savings as the peso loses value. Local cryptocurrency sources reported an increase of up to 500% in the crypto volumes moved, mostly in stablecoins like USDT, to shield incomes against the raging devaluation registered after the victory of the libertarian candidate Javier Milei in the primary elections.
Argentines Fly to Safety by Acquiring Dollar-Pegged Stablecoins
Argentines have turned to purchasing cryptocurrency amidst a raging devaluation that has tanked the peso to record low levels. According to local reports, several cryptocurrency exchanges have registered a rise in their trade volumes of up to 500%, as users seek to take cover mostly in dollar-pegged stablecoins after the victory of libertarian Javier Milei in the preliminary elections. Milei has plans to dollarize the country.
Stablecoins, in this case, give Argentines the advantage of having high availability compared to physical dollars, offering more possib
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