USDT Prices Surge in Argentina as Dollar Demand Spikes
2025-07-09 23:34:49
Main Idea
USDT prices in Argentina have surged due to increased demand for US dollars, driven by factors such as new bonus rules and economic instability.
Key Points
1. USDT prices rose above 1,280 pesos on July 8, pricing it at USD 1.02, with stablecoin transactions growing by over 350% hour-on-hour in April.
2. Argentina's USD-pegged coin trading volumes in February were 2.5 times higher than the 2024 monthly average, following the government's decision to lift USD buying caps.
3. President Javier Milei's dollarization plans and economic reforms, including a shale-oil boom, are influencing market behavior.
4. New Christmas bonus rules and the concept of 'dólar barato' (cheap dollar) are driving demand for USDT and other USD-pegged assets.
5. Black market USD prices are also climbing, with the MEP dollar rate increasing by 2.4% from ARS 29.52 to ARS 1,276.44 in early July.
Description
USDT prices have reportedly risen in Argentina as demand for US dollars rises in the Latin American nation. Criptonoticias reported that the price of USDT rose above the 1,280 peso mark on July 8. At the time of writing, that would price USDT at USD 1.02, rather than USD 1.00. The news comes just three months after the Lemon Cash platform, one of the country’s most popular crypto exchanges, recorded an all-time high for stablecoin purchases. The firm said that between April 14, between 10 am and...
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