Who sets the price of USDT in bolivars?
Many wonder why the price of USDT in high-inflation countries like Venezuela seems to have a 'life of its own' and does not exactly match the official dollar or the parallel one.
The truth is that USDT does not have a fixed price in local currency.
Its value is determined by supply and demand in the market, just like with any other asset.
So who actually determines this?
People who buy and sell USDT in bolivars, mainly through P2P platforms like Binance, OKX, or even groups on Telegram and WhatsApp.
It is not the government or a company that sets the price.
It is a free market where thousands of users post prices based on their preferences, and an 'average price' is formed that everyone uses as a reference.
This also explains why there can be differences between platforms or why the price moves so quickly: if more people are buying USDT, the price in bolivars goes up, and if more people are selling, it goes down.
Understanding this is key to avoiding confusion or comparisons with the official dollar, as USDT is not tied to any government rate.
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