Venezuela's Binance P2P USDT Volumes Hit $1.38 Billion in One Month, Rivaling Oil Exports

According to Ecoanalitica, an economic consulting firm, Binance peer-to-peer USDT trading volumes in Venezuela reached $1.389 billion between June 11 and July 13. Ecoanalitica director Alejandro Grisanti noted this volume equaled 88% of the central bank's foreign currency sales in June and 75% of the country's monthly oil exports, demonstrating that crypto has become a primary channel for currency exchange in the nation.
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