Venezuela’s Currency Crisis Drives Adoption of USDT for Daily Transactions

With Venezuela’s inflation soaring at 229%, residents are turning to Tether (USDT) as a stabilizing currency. This shift underscores the growing reliance on stablecoins like USDT in times of economic instability. As the bolívar, Venezuela’s national currency, becomes practically unusable due to hyperinflation, many Venezuelans are now using USDT for everyday transactions. 229% inflation is driving this move as USDT provides a more reliable alternative.