2023-10-23 03:21:49
The price of the “crypto dollar”, which results from the price at which cryptocurrencies are exchanged that follow the value of the US currency, registered a sharp drop tonight, after knowing the preliminary results of the presidential elections, in which the candidate for president for Unión por la Patria, Sergio Massa, with 36.20% of the votes when the tables counted at the national level add up to 86.7%.
In this way, Massa will face Javier Milei, the candidate for La Libertad Avanza, who obtains 30.20% of the votes, in the runoff that will take place on November 19.
The purchase price of the “crypto dollar” (USDT, USDC or DAI, different “stablecoins” that are traded in the market) fell by about 17% between 6 and 9 p.m., after moving to an average of $1,200 to $1,000 , according to data from the CriptoYa portal, which analyzes data from more than 20 crypto exchange platforms.
The price of cryptoactives is the only one that remains active 24 hours a day, so it continued to fluctuate over the weekend, once the stock markets had already closed on Friday.
The search for coverage by savers amid speculation of a first-round victory for the La Libertad Avanza candidate had boosted the value of the crypto dollar since Friday afternoon.
On Saturday night, on some platforms, the crypto dollar was trading at $1,300 per unit, although since then it began to fall in price and, with the preliminary results of the presidential elections, it fell back to values at the close of last week.
The libertarian economist promised in his campaign a dollarization of the economy, which generated uncertainty in the markets and greater demand for safe haven assets, such as the “crypto dollar.”
However, a second round between Massa and Milei deflated the demand for this asset and led users to turn to its sale, which affected its price.
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