Struggling with the economic crisis, Argentina’s economy minister Martin Guzmán resigned last Saturday. According to data from local cryptocurrency analytics platform Crpyoya, Argentine people purchased two to three times more stablecoins than they did in a typical weekend.
3 major crypto exchanges based in Argentina, consumers have been in the country for the past 2 years. hyperinflation with the fear that it will continue devaluation He said he wanted to be protected. Guzmanafter the resignation of Argentine peso stablecoin DAI and USDTagainst 15% depreciation.
Guzman’s resignation, President of Argentina Alberto Fernandez with Vice President Cristina Fernandez between the May 60% It took place after the discussion about the increase in inflation.
Argentina-based crypto exchange ripioCEO of Sebastian Serrano “Cryptocurrencies are 24/7 active nature As a matter of fact, after such crises that broke out in our country over the weekend, there was an unprecedented trend towards stablecoins.” made statements. The CEO also added the following words to his statements:
Transactions last Sunday were up 300% from the same day of previous weeks, with “many” using their DAI as collateral to get loans in Argentine pesos. There is a potential devaluation of the peso.
Price in US dollars during the weekend lack of references The difference between the buying and selling prices on most Argentine stock exchanges is usually It went from around 2% to 18%.