Industry insiders claim Argentina is experiencing a rise in stablecoin buying as black market dollar market prices spiral upward.
Per Globo, the nation is in the grips of the “worst political crisis in 21 years,” with hyperinflation eating up the value of the fiat peso.
Last week, Bloomberg reported:
“The official [dollar exchange] rate is 287 pesos per dollar, while the black market trades at about 600 pesos on the streets of Buenos Aires.”…
Read More: Stablecoin Buying Rises in Argentina as Peso Tumbles