🚀💸 Why did USDT surge so much against VES? 📉💥
The VES/USDT pair broke the barrier of 800 bs due to a mix of economic factors in the local market:
1️⃣ Increased Liquidity (More Bolívares on the Streets) After massive payments of bonds or contracts in bolívares, businesses and citizens rush to shelter in USDT to avoid devaluation. Higher demand for digital dollars makes the price shoot up quickly. 🔄💰
2️⃣ Lower Supply of Foreign Currency in Banks (BCV) If the weekly injection of cash dollars by the Central Bank of Venezuela (BCV) decreases or is restricted in banks, the flow of buyers inevitably shifts to Binance's P2P, skyrocketing the rate. 🏦🏛️
3️⃣ P2P Arbitrage ("Currency Bicycle") The gap (spread) between the official dollar and the parallel market activates traders. Buying cheap in banks and selling higher on Binance creates constant pressure that boosts volatility on payment gateways. 🔀📊
4️⃣ Inventory and Cost Protection Many large businesses calculate their structures and inventory replenishment in USDT. Seeing exchange pressure, they adjust their rates upwards in P2P to protect themselves from aggressive devaluation. 🛒🛡️💡
In summary: There was an excess of bolívares chasing USDT and few sellers in those ranges, forcing the market to pay higher rates (801.50 bs) for quick execution.
How do you see liquidity in your banks today?
Leave us your report in the comments! 👇
$USDC #VES #USDT #P2P #Arbitraje #Venezuela