Argentina’s 276% inflation rate is one of the main reasons for the accelerated adoption of local cryptocurrencies

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Odaily2024/07/09 13:18

By:Odaily

Odaily News Argentinas cryptocurrency adoption rate has set a record in the Americas, and analysts believe that Argentina has been leading the Western Hemisphere in cryptocurrency adoption, mainly due to its high annual inflation rate of 276%. In an article on July 8, Forbes analysts stated that Argentinas cryptocurrency adoption rate as a percentage of the global population is higher than any other country in the Western Hemisphere. The report cited website data from Similarweb, pointing out that of the 130 million visitors to the worlds 55 largest exchanges, 2.5 million were from Argentina. In terms of the number of visitors, Argentina is also the largest market for Binance, the worlds largest cryptocurrency trading platform. According to data from SimilarWeb, website traffic from Argentina accounts for 6.9% of Binances total visits. (Cointelegraph)

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