Transaction volume data from blockchain analysis firms like Chainalysis or local financial reports

Argentina Sees Surge in USDT Crypto Adoption Amid 276% Inflation, Highest in Western Hemisphere

Jul 8, 2024, 04:37 PM

Argentina, facing a staggering 276% inflation rate, has seen a significant surge in cryptocurrency adoption, particularly with USDT. A Forbes study reveals that Argentina is adopting crypto at 3.2 times its share of the global population, surpassing even the United States in percentage terms. The adoption is driven by citizens seeking to safeguard their savings as traditional assets, like beef, become too costly. However, the lack of regulation and reliance on untrustworthy exchanges pose challenges. Argentina now has the highest crypto adoption rate in the Western Hemisphere, highlighting the impact of its inflation-saddled economy.