In Argentina, the dollar is the traditional means of refuge in the face of an uncertain economy.
The fact reflects the market’s confidence in the Government’s economic measures.
The price of USDT and other stablecoins—what is popularly known as the “crypto dollar”—had an accelerated fall in Argentina, compared to its price in pesos.
This has occurred since the afternoon and evening of yesterday, October 26, 2025, after the results of the legislative elections began to be known. Freedom Advances (political party to which the national government and president Javier Milei belong) He won with a wide advantage over his rivals both nationally and in key districts.
At the national level, both in deputies and senators, Milei’s political space obtained more than 40% of the votes. This means that starting December 10, if La Libertad Avanza reaches agreements with related political forces, it will be able to obtain the necessary consensus to approve in the Legislative Branch the reforms that President Milei intends to promote.
With the confidence in the markets that these election results brought, the stablecoin movement was immediate. The following graph shows the USDT quote in Argentine pesos for the last 7 days:
As could be seen in the image, The crypto dollar was below 1,430 pesosa level that has not been seen since October 14.
In the following graph, provided by the Argentine exchange Lemon, you can see the volume of purchases and sales of crypto dollars on that platform, hour by hour. It is evident that from the first minutes after the election results were known, sales increased (that is, the conversion of stablecoins to Argentine pesos. Likewise, it can be seen how now, with the price of the crypto dollar relatively low, the buying trend returns:
Likewise, on the Ripio exchange, it is observed that the tokenized version of the AL30 bond, called “wAL30RD”, trades with a spread of 3.92% compared to the original bond (waiting for the market to open).
In a statement sent by Ripio to CriptoNoticias before Sunday’s elections, it was commented on the topic that “the wAL30rd market will allow us to see in real time how interest in Argentine bonds moves around the vote, just as in past elections the stablecoins in USD anticipated exchange and market movements for the following Monday.”
They add from Ripio: «what will remain in one way or another is that we come from a world without markets on Sundays, much less in elections. With the tokenization of the AL30 and the use of stablecoins (USDT, USDC), we moved to a 24/7 scheme of immediate operation. Investing during an election day may seem unusual, but it is a new opportunity in Argentina and a first step in what we explore at Ripio in terms of tokenization of real-world assets.