Argentina: how much are crypto pegged to the dollar sold for after Guzmán’s resignation?

The blue dollar trades at 239 pesos this weekend and the magnitude of the variation that could be marked after the surprising resignation of Martín Guzmán from his position as Minister of Economy on Saturday afternoon is unknown.

Until the opening of the stock and exchange market tomorrow, cryptocurrency operations are the only parameter of variation on the US currency, because the platforms for buying and selling these assets allow transactions 24 hours a day and at any time of the week.

After the resignation of the head of the economic portfolio was known, the digital currencies that trade at par with the dollar – such as DAI (DAI), Tether (USDT) and USD Coin (USDC) – had substantial increases.

Even so, it should be noted that the volume of cryptocurrency transactions is marginal and their values ​​are not very representative of the price that may be reflected in tomorrow’s opening.

In the operations of Binance, the most used exchange in Argentina, a unit of Tether (USDT) is traded on average at 268 pesos. Backed by the United States dollar, this crypto asset is the most successful among its category.

When you invest in Tether, you receive a token called USDT in return, which can be used to save digital dollars, buy another cryptocurrency, or even trade as explained below.

The CEO and co-founder of Satoshi Tango, Matías Bari, stated that the average value for a USDT is around 270 and 275 pesos “because it is the only market open 24/7 and people assume that there may be a jump in the dollar , depending on who the new replacement is.”

“What happened yesterday is that people turned massively to buying crypto, not just stablecoins. [Martín Guzmán] he resigns on purpose on a weekend because if this happens on a weekday there would probably be a serious foreign exchange problem. We’ll see how it opens tomorrow,” added Bari.

Source: The Chronicler-Ripe

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