The crypto is enjoying special attention in South America. The people from Argentina are paying a premium for cryptos. On the other hand, there are crypto prizes being offered in the Venezuelan national lottery. The interest in the cryptos is getting stronger, especially when the election’s results are around the corner. Talking of the election scenarios in the country, Alberto Fernández is winning with 47 percent of the vote.
As per some reports, the election result has pulled Peso 30 percent down, giving it a fresh new low in the international markets. Some believe that winning in the second stage of the election should give a stronger grip on the monetary matters. It may also further increase the crypto adoption levels in the country. The natives are already expressing strong interest in the crypto industry. They are seen paying premium charges for buying cryptos, and this pattern has only increased in the past two months. As per reports, BTC is trading at approximately USD 13,000, which impressively supersedes the global average of the crypto, which is around USD 11,410.
On the other hand, a decrease in the value of the bonds and bank shares is also seen. The reported drop is of 14 percent and 35 percent for bonds and bank shares, respectively. Whereas, cryptocurrencies and altcoins, especially Bitcoin, are seeing a spike in demand in the country. Experts and market analysts still think the awareness of the crypto in the country is low. They see a scope of growth and greater awareness amongst the masses and growth in the Argentinean markets. The awareness levels about crypto are alright though in the tech industry of the country. Some say that the country is ‘obsessed’ with the dollar, and the market is highly ‘illiquid.’
Further, moving towards the west of the country, in Zulia, soon rewards will be offered in terms of Bitcoin through a state lottery system. Even the country’s native Petro crypto will also be offered in the rewards. As per the state governor, decisions are in accordance with the plan for incorporation of the country’s new crypto ‘financial system.’ The winners of the lottery will be required to have crypto wallets in order to receive the rewards.