Who sets the price of USDT in bolivars?
Many wonder why the price of USDT in countries with high inflation, such as Venezuela, seems to have a 'life of its own' and does not exactly match the official dollar or parallel.
The truth is that USDT does not have a fixed price in the local currency.
Its value is determined by supply and demand in the market, just like any other asset.
So who really determines this?
People who buy and sell USDT in bolivars mainly do so through P2P platforms like Binance, OKX, or even groups on Telegram and WhatsApp.
It is neither the government nor a company that sets the price.
This 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 buy USDT, the price in bolivars rises, and if more people sell, it falls.
Understanding this is key to avoiding confusion or comparisons with the official dollar, as USDT is not tied to any official rate.
If you like what I'm sharing, I invite you to comment or share what has helped you the most.
If you follow me, I will follow you back. 👉
📊 Check out how the most traded pairs are doing by clicking here 👇