EDUSELL
Financial Market Examiner
Midas Crypto Vault
  • Home
  • Education
  • Forex News
  • Crypto News
  • Stocks
  • Reviews
No Result
View All Result
  • Home
  • Education
  • Forex News
  • Crypto News
  • Stocks
  • Reviews
No Result
View All Result
Financial Market Examiner
No Result
View All Result
Home Crypto News

Argentinians Turn to Stablecoins Over Financial Crisis

Admin by Admin
July 4, 2022
in Crypto News
0
Argentina seizes crypto wallet of non tax payers
0
SHARES
2
VIEWS
Share on FacebookShare on Twitter
MMC MMC

Argentinians have found refuge in Stablecoins as the South American country continued to face financial crisis. Economy minister, Martin Guzman resigned over the weekend attributed to the financial crisis crushing the nation.

The continuous inflation in the country is causing a devaluation of the national currency, the Argentine peso (ARS). According to reports, trends from three crypto exchanges in Argentina has seen customers turning to stablecoins.

Consumers are looking for hedges, for instance, the peso depreciated by nearly 15% against various stablecoins like Tether (USDT) and MakerDAO (DAI) on leading local crypto exchanges after Guzman resigned.

Therefore, according to reports, Argentinians purchase stablecoins two to three times more than is the case on a typical weekend. The report reads, ‘‘Argentine exchange Buenbit recorded a 300% increase in trading on Sunday compared to the same day in previous weeks.”

 Argentinians have now been seeking shelter in digital assets despite the nation recently halting crypto operations undertaken by financial institutions.

Depending on different regulations, crypto usage is speculated to continue rising in Argentina because cryptocurrency is deemed a hedge against a cyclical economic crisis that includes hyperinflation, recession, and repeated currency devaluations.

Also Read- Argentina Seizes Crypto Wallets of Its Non-Tax Payers

Share on TwitterTweet
Share on Pinterest Share
Share on LinkedIn Share
Share on Digg Share
Tags: ArgentinaCryptocurrencyStablecoins
Institutional Trading Concept Institutional Trading Concept Institutional Trading Concept
ADVERTISEMENT
Previous Post

Coca-Cola to Release a Series of Pride-Themed NFTs in Support of LGBTQIA+ Community

Next Post

Celsius Network Discharges Staffs to Stave Off Bankruptcy

Admin

Admin

Next Post
Celsius network dismisses staffs

Celsius Network Discharges Staffs to Stave Off Bankruptcy

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

  • 99 Subscribers
  • Trending
  • Comments
  • Latest
AUD USD pair

Forex: AUD/USD Point To More Downside For The Aussie

October 20, 2022
yen and dollar

FOREX-Yen Flirts With Intervention Level As Dollar See Gains

October 11, 2022
Virtual stadium in the metaverse

Why Virtual Stadium Can Be the Next Big Thing in the Metaverse

January 26, 2023
USDD Depegs

USDD Stablecoin Depegs To $0.96, Tron (TRX) Dumped

December 12, 2022
What is Initial Coin Offering?

Initial Coin Offering (ICO)

0
What is staking?

Staking

0
What is Defi?

Defi (Decentralized Finance)

0
Differences between Axie Infinity and Decentraland

Axie Infinity and Decentraland: Features and Differences

0
What is Wiki Cat

What is Wiki Cat (WKC)?

February 1, 2023
FTX Group Interim Financial Update Contradicts Court Filing, Shows Exchange Had $1.43B In Cash

FTX Group Interim Financial Update Contradicts Court Filing, Shows Exchange Had $1.43B In Cash

February 1, 2023
Tesla Lost Millions In Crypto

Tesla Lost Millions In Crypto

February 1, 2023
UK Treasury Publishes Crypto Framework Paper

UK Treasury Publishes Crypto Framework Paper

February 1, 2023

Recent News

What is Wiki Cat

What is Wiki Cat (WKC)?

February 1, 2023
FTX Group Interim Financial Update Contradicts Court Filing, Shows Exchange Had $1.43B In Cash

FTX Group Interim Financial Update Contradicts Court Filing, Shows Exchange Had $1.43B In Cash

February 1, 2023
Tesla Lost Millions In Crypto

Tesla Lost Millions In Crypto

February 1, 2023
UK Treasury Publishes Crypto Framework Paper

UK Treasury Publishes Crypto Framework Paper

February 1, 2023
Financial Market Examiner

Get all the latest Financial Market (Crypto & Forex) news, updates and other relevant resources here.

Follow Us

Browse by Category

  • Crypto News
  • Education
  • Forex News
  • Gaming
  • Reviews
  • Stocks

Recent News

What is Wiki Cat

What is Wiki Cat (WKC)?

February 1, 2023
FTX Group Interim Financial Update Contradicts Court Filing, Shows Exchange Had $1.43B In Cash

FTX Group Interim Financial Update Contradicts Court Filing, Shows Exchange Had $1.43B In Cash

February 1, 2023

© 2022 Financial Market Examiner. - Designed by Mayconcept Solutions.

No Result
View All Result
  • Home
  • Education
  • Forex News
  • Crypto News
  • Stocks
  • Reviews

© 2022 Financial Market Examiner. - Designed by Mayconcept Solutions.

?>