Citizens of Argentina are hedging their savings by using stablecoins amidst the recent climate of uncertainty created by the resignation of certain key members of the government. The minister of economy in the country resigned last weekend, alongside other personalities, creating the turmoil that prompted the price of stablecoins in the country to rise by 11% on some exchanges.
Furthermore, the volumes of stablecoins traded increased significantly. Some operators reported increases of 500% in volumes traded during some hours of the weekend, with most traders trying to anticipate the rise in traditional markets to take advantage of the arbitrage opportunities.
What do you think about the recent rise in demand and price of several stablecoins in Argentina? Tell us in the comments section below.