Argentina's currency controls lifted, stablecoin market becomes the 'epicenter'!!!
After the Argentine Minister of Economy announced the lifting of currency controls, stablecoin trading volume surged, with some exchanges reporting a 100% increase in trading volume within just one hour.
🔸 Initial selling of USDT and other digital dollars caused market fluctuations, but by Saturday, buyers dominated, and the exchange rate rebounded.
🔸 Lemon exchange data shows a 35% increase in buy orders, with a sharp rise in demand for stablecoins, reflecting Argentinians' huge interest in stable assets.
🔸 The situation at Bitso is completely opposite, with an increase in sell orders leading to a quick price drop of 5% after the announcement, indicating market uncertainty and speculative mentality.
⏳ Are Argentinians engaging in 'short-term speculation' or do they trust stablecoins?
With the lifting of currency controls, market panic may dissipate, but the future of stablecoins remains uncertain.
