Binance Enters Popular Venezuelan Dollar Indexes as Currency Plunges 10% in One Week

Binance Enters Popular Venezuelan Dollar Indexes as Currency Plunges 10% in One Week


Binance, the leading P2P exchange in Venezuela, is now present in several popular dollar indexes in the country. The price of USDT on Binance’s P2P platform is now used to calculate the average price of the dollar with other P2P and electronic markets. The Venezuelan currency, the Bolivar, took a plunge last week losing 10% against the dollar as the government considers a currency redenomination.

Binance Makes Its Way Into Dollar Indexes

Binance has made its way into popular dollar indexes in Venezuela, after becoming one of the most well-known crypto markets in the country. Now, the average USDT price of its P2P exchange is being used to get a grip on the real price of the dollar in the country by two known indexes: enParaleloVzla and MonitorDolar. Binance P2P is the second cryptocurrency-related platform that is being taken as representative of how the dollar price moves in the market, with the first one being Localbitcoins, another P2P market.

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