USDT premium in Venezuela surges amid rush to hedge against Bolivar

The price of USDT on peer-to-peer (P2P) markets in Venezuela has surged by approximately 16% over the past 30 days, climbing from 690 to over 800 Bolivars, Criptonoticias reported. The media outlet noted that a surge in Bolivar liquidity, coupled with banks restricting the supply of U.S. dollars and imposing limits on foreign exchange purchases, is driving this trend. As a result, both companies and individuals are turning to P2P platforms like Binance to preserve the value of their assets.