Venezuelan USDT prices exceeded 400 bolivars per unit amid sustained growth in local demand.
Digital assets issued by Tether Limited rose 30% last month, from an average of 316 bolivars in November. to the current 421 bolivars.
The following graph shows how the price of USDT, measured in bolivars, has evolved over time.
On Crixto, one of the two platforms allowed to operate digital assets in the Caribbean, the purchase rate for USDT is currently 400 bolivars. Trading USD Coin (USDC) is also regulated and professionalized on Kontigo. The reference price is hovering around 420 bolivars per unit.
The differences between both platforms reflect fluctuations in supply and demand between different digital assets pegged to the dollar. According to a report from CriptoNoticias, users are increasingly looking for stable digital products due to the continued devaluation of the bolivar and exchange restrictions.
In an unregulated market like Binance, The operating rate in USDT is also around 420 bolivars. This indicates an overall upward trend in the local ecosystem.
Although the platform concentrates a large amount of its business in the Caribbean, it does not have official permission to do business in Venezuela.
