Argentina’s inflation rate is 276%, driving widespread cryptocurrency adoption in the country

Cryptocurrency adoption in Argentina hit a record high on July 9, as local inflation soared. Analysts note that Argentina has been leading the Western Hemisphere in cryptocurrencies, with an annual inflation rate of 276%. Forbes analysts said Argentina’s cryptocurrency adoption rate leads the world. According to SimilarWeb data, 2.5 million of the 130 million visitors to the world’s 55 major exchanges are from Argentina. Argentina is also the largest market for Binance, the world’s largest cryptocurrency trading platform, with website traffic from Argentina accounting for 6.9% of Binance’s total visits.