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The U.S dollar-Argentine peso exchange rate escalated during December, with the Argentine fiat currency reaching new historic lows as citizens ran to exchange their holiday payments for dollars. The U.S. dollar reached a value of 356 pesos on December 28, losing almost 10% during just one week, and threatening to
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Major crypto exchanges reported that consumers purchased up to three times as many stablecoins on Sunday as they usually do amid a brewing economic crisis. Source
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Since 2016, Argentina has been engaged in a war against inflation. Caused by multiple factors, like a lack of trust in the central bank or government overspending, the depreciation of the Argentinean peso has negatively impacted citizens' purchasing power.This has brought 37.3% of the population under the poverty line, and
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Arcane Research has taken to Twitter to reveal that more and more Argentines are now buying bitcoin (BTC) as the country is about defaulting on its $65 billion foreign debt, a situation that would worsen the current economic crisis in the nation. The weekly volume of bitcoin purchased with the
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