Binance P2P USDT Trading in Venezuela Surpasses $1.389 Billion, Rivals Oil Exports
USDT trading on Binance’s peer-to-peer market in Venezuela reached roughly $1.389 billion between June 11 and July 13, averaging about $44 million daily.
An estimate from Venezuelan economic research firm Ecoanalítica valued the monthly volume at approximately 75% of the country’s oil exports and noted the activity supplied more than half of the central bank’s foreign-currency sales. The local over-the-counter price for the stablecoin traded near 840 bolivars, roughly a 15.5% premium above the official exchange rate.
From the sources (3 posts)
@wublockchainUSDT Trading in Venezuela Now Rivals the Country's Oil Exports Between June 11 and July 13, about 1.389 billion USDT was traded on Binance’s peer-to-peer market in Venezuela, averaging roughly USD 44 million a day. Ecoanalítica, a Venezuel
@spendnodeSTABLECOINS RIVAL OIL IN VENEZUELA A new report estimates USDT trading in Venezuela over one month roughly matched the value of the country's oil exports. When a currency collapses, people do not wait for permission. They move to dollars on
@criptonoticias📈 El volumen transado con la stablecoin USDT ya compite con las exportaciones de petróleo en Venezuela. Este canal mueve unos 44 millones de dólares diarios, superando la mitad de las divisas que vende el Banco Central. Lee la nota complet