After the close of the polls and with the first results that give a clear advantage to Javier Milei, savers accelerated the demand for the crypto dollar, which around 20 p.m. exceeded $1,200 on the main platforms in the country. This digital exchange rate is the only one that moves 24/7 and that is why it serves as a thermometer to measure the reaction of the foreign exchange market to the election result.
With more than 70% of the tables counted, and Massa's acknowledgment of defeat, demand on exchanges operating in the country skyrocketed and the digital dollar is offered at up to $1330.
From the Lemon app they indicated that after 19 p.m. the volume doubled compared to what had been registered in the first hour after the close of the polls. With an opposition victory, the price on the platform jumped $100 in an hour and settled above $1,250.
Meanwhile, on Bitso, another of the leading sites in this market, the price of USDC rose more than 15%. "With two hours to go before the polls close, the crypto dollar rose 15%. It is now trading between 1050 and 1080 pesos and we continue with the best price in the market (15% less than the competition)," said Julián Colombo, CEO of Bitso in Argentina.
At the same time, the price of the MEP dollar on the Cocos app, the only one that allows trading during the weekend, also skyrockets and sells at $1,100.
The market is attentive to the first signs of the elected candidate and is looking ahead to the transition.