The use of stablecoins surged in Argentina over the weekend

Stablecoin use skyrocketed in Argentina over the weekend as citizens concerned about the election results swapped hoards of pesos for U. S. dollar-backed ￰0￱ Werning, the former Tether expansion manager for Argentina, noted the volume across the USD stablecoin to Argentine peso trading pair reached $13.4 million on ￰1￱ finance professional Santiago Vivanco reportedly claimed that he did not know anyone who had carried large amounts of Argentine pesos into the ￰2￱ added that he expected the peso to crash if Unión por la Patria had won, emphasizing that the party’s left-wing economic policies would not favor the ￰3￱ chance that Unión por la Patria would win the most seats peaked at 55% on ￰4￱ Donald Trump had equally warned that the ￰5￱ not waste time helping Argentina if Milei ￰6￱ such, Argentines rushed to buy USD stablecoins to avoid a potential peso ￰7￱ also observed that markets are reacting favorably to Milei’s make-or-break victory, with the peso looking stronger on Monday than it did at its close on ￰8￱ explained how the crypto dollar rose dramatically over the weekend, then plummeted against the peso as results came in on ￰9￱ attracts its third-highest single-day volume 🇦🇷 Argentina’s peso crisis is fueling a stablecoin ￰10￱ the currency down over 4% since October and FX controls tightening, millions are turning to USDT and USDC as lifelines — not ￰11￱ platforms like Ripio and Lemon Cash report a 50% jump in… ￰12￱ — Woneday💗♊1️⃣9️⃣0️⃣2️⃣✦ (@SangLe92818) October 27, 2025 South American crypto app Lemon announced on October 27 that it had attracted its third-highest single-day ￰13￱ also noted that at 9 PM local time, when the results were announced, stablecoins recorded the highest volume ever.

A Lemon spokesperson claimed that this trend made the crypto dollar more than a hedging ￰14￱ became a real-time thermometer of Argentina’s political and economic pulse when traditional markets closed for the ￰15￱ Lemon spokesperson mentioned that the crypto dollar’s valuation fluctuated as expectations shifted, votes were counted, and results became ￰16￱ rushed to swap pesos for stablecoins and vice versa to maximize their gains from the volatile ￰17￱ dashboard data revealed that the peso hit a low exchange rate of 1,572.50 ARS per crypto dollar on Sunday at approximately 2 PM local ￰18￱ rate changed quickly as the results became clearer, hitting a high of 1,350 ARS per crypto dollar at 10 AM local time on ￰19￱ Lemon spokesperson noted that this signals optimistic market ￰20￱ breaks down Argentina’s multiple exchange rates Finance professional Santiago Vivanco claimed that Argentina’s exchange rates are not ￰21￱ noted that multiple rates depend on where the transaction takes ￰22￱ explained that banks offer an “official rate,” but citizens are subject to a monthly withdrawal limit of $200.

The unofficial “blue dollar” rate, which offers a more favorable exchange rate, is available at street exchanges. Finally, the crypto dollar rate, which is determined by the balance of supply and demand through stablecoins, is available at street ￰23￱ finance professional further clarified that the main difference between these three rates is that the crypto dollar never stops operating; however, the official bank rates and unofficial street exchange rates close shop during ￰24￱ notes that the crypto dollar remains the best way to track peso prices, as was the case over the ￰25￱ also mentioned that the Argentine peso is notoriously unstable, noting that it hit a record low of 1,491.50 pesos per ￰26￱ on Friday despite President Trump’s $40 billion bailout package.

However, some citizens believe the peso would have crashed even harder if the right-wing LLA (Libertad Avanza) party had not secured the most ￰27￱ $50 free to trade crypto when you sign up to Bybit now