The Cryptos News | Daily Bitcoin News
  • Home
  • News
  • Market Cap
  • Top Cryptos
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
    • Cardano (ADA)
    • Solana (SOL)
    • Tether (USDT)
    • XRP (XRP)
    • Polkadot (DOT)
    • Dogecoin (DOGE)
    • USD Coin (USDC)
  • Prices
  • Wallet
  • Crash
  • Investment
  • Exchange
  • Mining
  • Trading
  • Home
  • News
  • Market Cap
  • Top Cryptos
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
    • Cardano (ADA)
    • Solana (SOL)
    • Tether (USDT)
    • XRP (XRP)
    • Polkadot (DOT)
    • Dogecoin (DOGE)
    • USD Coin (USDC)
  • Prices
  • Wallet
  • Crash
  • Investment
  • Exchange
  • Mining
  • Trading
The Cryptos News | Daily Bitcoin News
No Result
View All Result
Home Prices

Argentineans Rush to Tether After Economy Minister Resigns

Argentineans Rush to Tether After Economy Minister Resigns
Share on FacebookShare on Twitter


Source: AdobeStock / efas

 

Residents of Argentina rushed to bid up the price of the popular stablecoin tether (USDT) in local fiat terms over the weekend after news broke that the country’s minister for the Economy had resigned.

According to data from CriptoYa, a data provider that tracks crypto prices from Latin American exchanges and peer-to-peer markets, the price of USDT in the Argentine peso (ARS) jumped this weekend from around ARS 250 per USDT on Saturday to between ARS 270 and ARS 280 on Monday.

The price data was derived from a number of peer-to-peer markets where USDT is traded against the Argentinean fiat currency.

Price of USDT in ARS on various peer-to-peer markets:

Source: CriptoYa.com

Notably, the jump in price happened while regular foreign exchange (forex) markets were closed for the weekend. As of Monday at 11:00 UTC, the official USD/ARS exchange rate stood at USD 125.45 per ARS, well below the rate that USDT is trading at.

The official exchange rate between US dollars and the Argentine peso is managed by Argentina’s central bank through a daily controlled devaluation.

The country, which has been plagued by high inflation and currency depreciation for decades, has come into focus again this year as inflation has exceeded 50% annually.

Argentina is known as one of the countries with the highest crypto adoption rates globally, with blockchain intelligence firm Chainalysis last year ranking it as the country with the 10th highest adoption.

According to a Bloomberg report from Saturday, the moves in the USDT prices in local currency terms could indicate unease among traders over the government’s ability to tackle inflation and other economic problems.

The jump in prices followed the resignation of Economy Minister Martin Guzman, the biggest departure from President Alberto Fernandez’s government to date. The departure also happened amidst reports of infighting in the ruling coalition, the Bloomberg report said.

____

Learn more: 
– Visa Rolls out Multiple ‘Bitcoin Cashback’ Cards with Partners in Brazil, Argentina
– Argentinian Banking Heavyweight to Launch Bitcoin, Ethereum Trading, While Tax Body Urges Tighter Crypto Monitoring

– Argentinian Finance Minister ‘Wants More Crypto Taxes’
– Argentina Launches Regulatory Sandbox for Crypto Innovators & Investors

– Crypto Bills in Panama, Brazil Progressing Fast, but Argentina Province Sends Mining Warning
– Luxury Apartment Complex in Argentina to Feature a Bitcoin Mining Facility for Residents



Read More:Argentineans Rush to Tether After Economy Minister Resigns

Tags: ArgentineansEconomyministerresignsrushTether
Previous Post

Crypto.com Referral Codes and Bonuses

Next Post

Trading history shows that Bitcoin price can crash to $10,000

Related Posts

Latest Report Shows Cryptojacking Increased By 30% During The Crypto Slump

Latest Report Shows Cryptojacking Increased By 30% During The Crypto Slump

by The Cryptos News
July 30, 2022
0

The crypto industry is fraught with different malicious actors preying on unsuspecting users, especially the cryptojacking attackers. Many hacks...

Tron price prediction as Unifi Protocol TVL explodes

Tron price prediction as Unifi Protocol TVL explodes

by The Cryptos News
July 30, 2022
0

Tron price has held steady on Saturday as investors focus on the ongoing crypto recovery and the gains made...

Bitcoin and Ethereum Prices Are As High As They’ve Been Since June Crypto Crash, But

Bitcoin and Ethereum Prices Are As High As They’ve Been Since June Crypto Crash, But

by The Cryptos News
July 30, 2022
0

Editorial IndependenceWe want to help you make more informed decisions. Some links on this page — clearly marked —...

Crypto Flipsider News – Crypto Market Rally; Nirvana (NIRV) Exploited; Vasil Delayed;

by The Cryptos News
July 29, 2022
0

© Reuters. Crypto Flipsider News – Crypto Market Rally; Nirvana (NIRV) Exploited; Vasil Delayed; Zipmex Files for Bankruptcy; Celsius...

Next Post

Trading history shows that Bitcoin price can crash to $10,000

Subscribe
Login
Notify of
guest
guest
0 Comments
Inline Feedbacks
View all comments

Trending News

Payperless Crypto Wallet announced working on NFT tokens support

Payperless Crypto Wallet announced working on NFT tokens support

June 25, 2022
June’s Red-Hot Inflation Report Rattled Bitcoin and Ethereum Prices. What That Means for

June’s Red-Hot Inflation Report Rattled Bitcoin and Ethereum Prices. What That Means for

July 14, 2022
Ripple’s Counsel Urges US Lawmakers to Urgently Pass ‘Sensible’ Crypto Legislation Amid

Ripple’s Counsel Urges US Lawmakers to Urgently Pass ‘Sensible’ Crypto Legislation Amid

July 30, 2022
ADVERTISEMENT

Investment

Buying Bitcoin on the Dip? 3 Things the Smartest Investors Know About Crypto | The Motley

Buying Bitcoin on the Dip? 3 Things the Smartest Investors Know About Crypto | The Motley

July 30, 2022
Study up and become a more informed crypto investor with this bundle

Study up and become a more informed crypto investor with this bundle

July 30, 2022
Crypto Exchange KuCoin Launches NFT ETFs By Benzinga

Crypto Exchange KuCoin Launches NFT ETFs By Benzinga

July 30, 2022
Is It Right Time To Invest In Crypto Market? Crypto Expert Shares Bullish Indicator

Is It Right Time To Invest In Crypto Market? Crypto Expert Shares Bullish Indicator

July 29, 2022
$ETH-Based Investment Products Leading Bounce-Back in July, Says CryptoCompare Research

$ETH-Based Investment Products Leading Bounce-Back in July, Says CryptoCompare Research

July 29, 2022

Prices

Latest Report Shows Cryptojacking Increased By 30% During The Crypto Slump

Latest Report Shows Cryptojacking Increased By 30% During The Crypto Slump

July 30, 2022
Tron price prediction as Unifi Protocol TVL explodes

Tron price prediction as Unifi Protocol TVL explodes

July 30, 2022
Bitcoin and Ethereum Prices Are As High As They’ve Been Since June Crypto Crash, But

Bitcoin and Ethereum Prices Are As High As They’ve Been Since June Crypto Crash, But

July 30, 2022

Crypto Flipsider News – Crypto Market Rally; Nirvana (NIRV) Exploited; Vasil Delayed;

July 29, 2022

Trading

CoinFLEX: Amid liquidity crisis, the cryptocurrency exchange had this to say

CoinFLEX: Amid liquidity crisis, the cryptocurrency exchange had this to say

July 30, 2022
SEC Chairman Publishes Video Outlining Plan to Regulate Crypto Trading Platforms –

SEC Chairman Publishes Video Outlining Plan to Regulate Crypto Trading Platforms –

July 30, 2022
Analysis | Why the Crypto World Flinches When the SEC Calls Coins Securities

Analysis | Why the Crypto World Flinches When the SEC Calls Coins Securities

July 29, 2022
FTX wins full approval to operate crypto exchange in Dubai

FTX wins full approval to operate crypto exchange in Dubai

July 29, 2022
Crypto exchange Zipmex files for bankruptcy protection in Singapore

Crypto exchange Zipmex files for bankruptcy protection in Singapore

July 29, 2022
  • About Us
  • Contact Us
  • Terms of Use
  • Privacy Policy
  • DMCA

© 2021 Thecryptosnews.com

No Result
View All Result
  • Home
  • News
  • Market Cap
  • Top Cryptos
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
    • Cardano (ADA)
    • Solana (SOL)
    • Tether (USDT)
    • XRP (XRP)
    • Polkadot (DOT)
    • Dogecoin (DOGE)
    • USD Coin (USDC)
  • Prices
  • Wallet
  • Crash
  • Investment
  • Exchange
  • Mining
  • Trading

© 2021 Thecryptosnews.com

wpDiscuz